Barclays
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Mexican government-owned oil company Pemex will visit European investors next week on a non-deal roadshow, a source close to the borrower said.
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German wind-up agency FMS Wertmanagement priced on Wednesday afternoon the first benchmark in two weeks to come at the tight end of guidance. -
Turkish consumer products company Yasar Holdings is embarking on a roadshow with Barclays and Citi. Investor meetings for the deal start in London on Friday and take place in the US on Monday, Tuesday and Wednesday.
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Three issuers, two of them US banks fresh from earnings releases, announced deals to a buoyant euro denominated senior unsecured market on Wednesday.
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Sovereign, supranational and agency bankers are waiting for a borrower — possibly Sweden — to attempt a benchmark in the belly of the curve to test the strength of sentiment after extreme volatility in US Treasury markets last week led to a pair of undersubscribed deals in dollars.
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The European Stability Mechanism took a novel approach to the sale of its shortest dated bond to date on Tuesday, printing a two year deal with what is understood to be the first ever 0% coupon on a benchmark from a supranational or agency. Agence Française de Développement is set to mimic the ESM’s tenor on Wednesday, after mandating banks for a long two year on Tuesday afternoon.
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KfW had to keep books open for longer than it is used to when selling a three year dollar benchmark on Tuesday, but it still impressed bankers by getting the trade away at a tight level. Viewed as a deal breaker for other issuers to come in dollars this week, KfW’s success meant that more trades could join FMS Wertmanagement, which mandated banks for a two year deal on Tuesday afternoon.
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German styrenics supplier Styrolution will extend the initial Tuesday deadline for commitments on its €1.05bn-equivalent term loan ‘B’.
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The European Stability Mechanism has opted to sell what will be its shortest dated bond to date on Tuesday, after mandating banks for a two year bond on Monday afternoon. Meanwhile, the State of North Rhine-Westphalia grabbed some funding at the long end of the curve.
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Chinese company VeriSilicon Holdings is aiming for an IPO worth at least $75m on the Nasdaq, and has filed a preliminary prospectus with the US’s Securities and Exchange Commission.
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UK car breakdown recovery firm RAC set out price guidance on its £1.25bn loan at a London bank meeting on Thursday.
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