Barclays
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Israel Electric Company on Wednesday printed its $1.25bn 10 year bond at the tight end of price guidance and flat to the company’s existing curve. The book for the note was $3bn.
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Carlyle Group is buying Dealogic, the financial markets data and systems provider, for an enterprise value of about $700m, in a leveraged buyout that will include some debt financing. -
The European Financial Stability Facility is likely to be one of the few issuers to test demand in euros next week, having sent out requests for proposals for a benchmark on Wednesday. Other issuers with euro needs are more likely to indulge in arbitrage plays next week, said SSA bankers, although a pair of borrowers printed small euro benchmarks on Wednesday.
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Mubadala GE Capital has released initial price guidance for its $500m no grow five year bond of 150bp-162.5bp over mid-swaps.
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Israel Electric has released initial price thoughts at 275bp area over mid-swaps for a 10 year dollar benchmark. The guidance equates to around a 15bp premium over the company’s 2023s, which were trading around 260bp-261bp over mid-swaps.
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Kompany Weglowa has released initial price thoughts for a dollar benchmark five year bond at 9% yield area. As the company is 100% state-owned, this will make the bonds eligible for JP Morgan’s EMBIG (Emerging Market Bond Index Global) index. Syndicate officials away from the deal praised leads for having made this clear early as they said this, together with the bond's juicy yield, would likely drive demand higher.
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There’s a distressing tendency among equity analysts to underplay investment banking, especially when it comes to once proud universal banks like Barclays and RBS. CEOs play up their retail banking credentials, but the investment banks will have the last laugh.
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Council of Europe Development Bank (CEB) has hired lead managers to run the first five year dollar syndication since a pair of deals failed to cross the line three weeks ago amid strong volatility in US Treasuries. Sweden and Caisse des Dépôts et Consignations brought deals with more conservative maturities.
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The European Union will this week sell its longest-dated deal in two years, after mandating banks for a €660m October 2029 on Tuesday afternoon.
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RAC, the UK car recovery breakdown firm, has allocated its £1.25bn refinancing and recapitalisation loan after flexing the facility’s original issue discount in investors' favour.
