Barclays
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Lodha Developers has made its long awaited debut in the international bond market, raising $200m through a five year non-call three dollar trade on Thursday, March 5. However, not only did the Reg S deal struggle to maintain momentum during bookbuilding despite offering the highest coupon from an Indian corporate, but it also had a tough time in secondary markets. -
The tier two market rocketed back into action after a nearly two week hiatus on Wednesday, with Santander Issuances and KBC Group hitting the undersupplied sector and quickly building bumper books.
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Ineos, the Swiss-registered chemicals company, set price guidance on its €750m refinancing loan in dollars and euros, slightly ahead of a 2pm lender call on Tuesday.
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Jaguar Land Rover, the UK premium car maker, has dipped for the second time in two weeks into a high yield market awash with demand, leading to lower funding costs.
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Croatia's €1.5bn 10 year bond drew praise for a tight result but also criticism for having released initial price guidance too wide.
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Lodha Developers has started taking orders for its maiden bond on Thursday, having postponed the trade from the end of last year after demand was lacklustre. The Indian borrower is taking no chances this time around and has launched with a much wider pricing level to woo investors.
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French energy company GDF Suez has issued €2.5bn of bonds in four fixed rate tranches, of two, seven, 11 and 20 years, with small new issue premiums.
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Barclays, RBS and Standard Chartered have explained how they plan to meet new total loss absorbing capital (TLAC) rules — although the rules are not yet finalised and will not come into force until 2019.
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Croatia has tightened talk for its 10 year euro-denominated bond to 270bp area over mid-swaps, as the book for the deal climbed to past €5bn.
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Abu Dhabi Commerical Bank printed its $750m bond on Tuesday with only a 2bp new issue premium, crunching even tighter than the other aggressively priced United Arab Emirates bank bonds this year.
