Barclays
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When Glencore announced plans to raise $2.5bn of equity, all options were open, but one always looked the most likely: an overnight accelerated bookbuild.
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Hastings Group Holdings, the UK car insurance company, announced on Tuesday its plan to float on the London Stock Exchange, issuing about £180m of new shares. The deal will also include a secondary component. -
The Republic of Latvia has mandated DNB, HSBC and Natixis to arrange a 10 year euro denominated benchmark bond, its first since the start of ECB sovereign bond buying.
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Weichai Power has mandated four banks to work on a proposed dollar offering, which would mark the company’s first outing in the international bond market.
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The International Swaps and Derivatives Association is likely to have to change its licensing practices as a result of a $1.9bn credit default swaps price fixing settlement by banks, according to a source familiar with the case.
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Pernod Ricard, the French distiller, priced an opportunistic €500m bond on Monday, paying an 18bp new issue premium in a market that some participants feel is getting heavier.
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European Investment Bank tapped a 2022 sterling line for £300m on Monday, and is open to printing more in the currency.
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Borealis, the Austrian chemicals and fertiliser producer, has extended its €1bn five year revolving credit facility by one year.
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The European Stability Mechanism visited the short end of the curve to bring the largest benchmark from a supranational or agency in 18 months as the euro market goes from strength to strength.
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A falling euro/dollar basis swap has made dollar issuance for euro funding borrowers more attractive — but with a crucial US rate decision looming only a brave or foolish issuer would take the opportunity.
