Barclays
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Hutchison Whampoa showed off its impeccable access to bond markets, rewriting the record books and selling $5.4bn worth of dollar and euro bonds on October 28 in what is the largest corporate offshore deal to come out of Asia ex-Japan. -
GTech, the Italian gambling technology firm that used to be called Lottomatica, has slimmed down its $10.7bn bridge loan for its acquisition of International Game Technology of the US to $10.2bn.
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Barclays’ drive back to health is on track – but its investment bank is a shrinking part of the story. That was the message of the bank’s third quarter results this morning, which produced a 1.5% pop in the share price at the open, soon eradicated as Barclays fell in line with the wider market.
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Barclays has named Jiho Kim as country manager for Barclays Korea. The appointment comes after the former country manager, John Chang, moved to Hong Kong to head Barclays' equities distribution for Asia Pacific.
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Slovenia on Tuesday was able to ratchet in pricing on a long seven year benchmark — which is for pre-funding — by 15bp from the initial price thoughts level to price with a new issue concession of just 4bp.
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Israel Electric has mandated Barclays and Citi to arrange a dollar bond. Investor meetings are taking place in Europe and the US on Monday and Tuesday.
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Hutchison Whampoa showed off its impeccable access to bond markets today by selling dollar and euro bonds in the same day, and raising $5.4bn with heavily oversubscribed books.
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Slovenia has opened books for a long seven year benchmark bond for pre-funding purposes. It is taking the first available window after market participants had digested the results of the European Banking Authority’s comprehensive assessment — which found two Slovenian banks wanting.
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Mubadala GE Capital has mandated Barclays and Citi as global co-ordinators and joint lead managers and First Gulf Bank, HSBC, Natixis as joint lead managers for a dollar benchmark 144A bond.
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The primary covered bond market picked up after a week without any issuance, just as the European Central Bank’s third covered bond purchase programme (CBPP3) got underway. All four deals issued this week were ineligible for the programme which, from a pricing perspective, made more a difference than their preferential treatment under newly established liquidity rules.
