Barclays
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Heinz rounded out an impressive debt financing exercise on Wednesday for its merger with Kraft, adding modestly sized euro and sterling bonds to the $10bn seven tranche dollar issue it had done on Tuesday. -
Korea National Oil Corp (KNOC) has mandated six banks to prepare for the first outing to the offshore debt market this year. Although nothing has been decided on the upcoming notes, the borrower is expected to return before November 2015, when its existing bond comes up for maturity.
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All eyes were on Bank of China’s landmark four-currency deal on June 24, which was divided into 10 tranches in dollars, euro, Singapore dollars and offshore renminbi (CNH). It became the first bond ever issued in support of China’s plans to extend its global influence under the "One Belt, One Road" (OBOR) policy, but its success doesn’t necessarily mean there will be more, reports Narae Kim.
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Heinz rounded out an impressive debt financing exercise on Wednesday for its merger with Kraft, adding modestly sized euro and sterling bonds to the $10bn seven tranche dollar issue it had done on Tuesday.
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The corporate bond market got back on its feet with vigour on Wednesday, as Capgemini in particular impressed, with a hefty size and even heftier order book for a triple tranche deal — though it had to pay a large new issue premium.
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Bank of China has opened books for what will be landmark deal issued in four different currencies in the same day. However, some investors decided not to jump into the deal, thinking that the issuer came out with too tight pricing from the beginning.
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Ufinet, the telecoms unit of Gas Natural Fenosa (formerly called GNF Telecom), has pulled a repricing of its €295m leveraged loan, in a sign that the market's repricing wave may be breaking.
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Banca Sistema, the Italian bank specialising in factoring, especially for government bodies, began the bookbuild for its IPO on Friday June 19. The deal, led by Barclays, will value the bank at up to €350m.
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Singapore-listed Frasers Centrepoint (FCL) is planning to raise £300m ($475.7m) by way of a loan to fund its UK subsidiary’s recent acquisition of boutique hotel chain Malmaison Hotel du Vin.
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The University of Liverpool became the latest UK university to tap the capital markets on Friday, rounding off a tricky week for corporate borrowers with a well received 40 year sterling issue.
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InnoLight Technology Corp, whose customers include high-profile names such as Google and ZTE, has applied for a $100m IPO on the Nasdaq. The plans come at a time when many Chinese companies are delisting from US exchanges in the hope of seeking greener pastures back home.
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