Barclays
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Patrick Kwan has been named as Barclays new co-head of investment banking for Asia, completing a global reshuffle that will see a senior London banker move to Hong Kong to work alongside him. -
ITNL priced India’s first ever unrated dim sum bond on Thursday. The deal was capped at Rmb575m ($93m), with the proceeds being used to repay a loan in full.
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Scentre, the new Australian listed property company that holds the Westfield Group’s Australian and New Zealand shopping centres, issued its first bonds on Tuesday, and turned to the European market. Despite a weak day, it exceeded its target of €2bn, finding strong demand for a rare four tranche issue in euros and sterling.
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Europe’s corporate bond market was knocked sideways on Thursday by a gust of fear about peripheral Europe, after problems deepened at Portugal's Banco Espírito Santo. The market has not shut down, but ACS, the Spanish construction company, pulled a deal and no issuer managed to price tighter than its initial thoughts.
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Private healthcare group Générale de Santé will hold a bank meeting this week for a €1.1bn loan to back its takeover by Ramsay Santé.
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The Inter-American Development Bank took advantage of strong demand for dollar paper this week to sell its largest dollar benchmark, while Bank Nederlandse Gemeenten also visited the market, suggesting that appetite remains robust despite many investors getting ready to embark on summer holidays.
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The Republic of Iceland returned to euro syndications for the first time since 2006 this week, with a €750m six year bond that was almost three times oversubscribed and priced at the tight end of guidance. The issuer has plenty of time to consider its next move — its next redemption is in two years’ time.
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The US investment grade corporate bond market endured a rare day of zero issuance on Thursday as a market sell-off triggered by the troubles of Portugal’s Banco Espírito Santo kept borrowers at bay.
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The sterling market provided the only senior financial supply this week, with Dexia Crédit Local and Credit Suisse selling deals at the short end. A juicy spread over other highly rated paper propelled Dexia’s government guaranteed issue to exceed expectations, while Credit Suisse also drew strong demand for its floater.
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Russia's Gazprombank has sent out a request for proposals for a new loan, closely following its compatriot financial institution VTB, which is already in the market for a $1.5bn facility.
