Barclays
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Taiwan’s TPK Holding raised $384m from a simultaneous convertible bond and placement of shares, this week, bringing welcome relief to the equity-linked drought in Asia ex-Japan. The overwhelming investor response and solid aftermarket performance proved there is a hunger for paper, writes Rashmi Kumar. But the market is only open for the right names at the right terms, bankers warned. -
Cassa Depositi e Prestiti tightened pricing on a bond by 10bp-15bp on Tuesday — but bankers on and off the deal said such a wide move was necessary given the market environment.
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Scentre, the Australian company that owns and operates the Westfield shopping centres in Australia and New Zealand, has issued a £400m seven year bond.
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The AA’s traditional investors on Friday helped the UK car breakdown insurance company price £735m of class ‘B’ notes inside price guidance.
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Poland printed its new 12 year note with a 0.875% coupon on Monday, making a big saving on where it priced a 2024 at 3% last January.
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Taiwan’s TPK Holding is tapping the equity capital markets to raise $286.4m from a combination of placement and a convertible bond, with the latter issuance marking Asia ex-Japan’s very first $100m-plus equity-linked product for the year.
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German car parts maker Schaeffler printed on March 27 €1.5bn of dual currency, senior secured high yield notes, capturing large savings.
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Barclays has hired Barry Meyers, an executive director from JP Morgan, to be head of UK equity capital markets.
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Poland on Monday announced a €1bn 12 year note, its first euro-denominated offering since January 2014.
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Standard Chartered has successfully sold its first AT1 bond though a less investor-friendly structure meant it was forced to pay up compared to a recent deal from rival HSBC. But investors were undeterred as the bond managed to attract a $22bn order book – the largest ever for a single tranche AT1 bond, say bankers.
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Spain this week ended a run since the beginning of the year of eurozone periphery countries raising books of over €10bn — but sovereign debt bankers were reluctant to call time on the strong bid for the issuers.
