Barclays

Barclays has appointed Mitul Kotecha to lead its Asia Pacific FX strategy team in what is a new position for the bank. He relocates from Hong Kong to Singapore and he started his job last week.

Thai Airways is meeting investors this week for its first dollar offering and has opted for a senior perpetual bond. Should a bond follow, the borrower will be only the second Thai corporate to tap the dollar hybrid market this year.

The UK Debt Management Office raised £5bn of January 2045 money this week with a deal that was several times subscribed — despite the potential of an appearance by the governor of the Bank of England before the Treasury Select Committee to induce volatility in sterling bond markets during the book-build. The deal was one of two DMO syndications this week, coming a day before its debut sukuk bond (see cover story).

The drama of a pulled Barclays trade and weak GDP data overshadowed a flurry of FIG issuance in the US led by National Australia Bank at the start of the week.

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Bayer, the German pharmaceutical and chemical company, set a new benchmark for tight pricing in corporate hybrid capital this week – despite having a big funding need to pay for its $14.2bn acquisition of Merck’s consumer care business.

UK insurer Aviva and French bank BPCE are out with euro denominated tier two deals on Thursday as the FIG market recovers from a slight sell-off following the shock revision of US first quarter GDP figures showing a 2.9% contraction.

Pacific International Lines (PIL) met fixed income investors in Singapore this week for what will be the borrower’s debut bond if it emerges.

Bayer, the German pharmaceutical and chemical company, today set a new benchmark for tight pricing in corporate hybrid capital – despite having a big funding need to pay for its $14bn acquisition of Merck’s consumer care business.

Tesco, the UK supermarket group, launched its first bonds since November today, raising €2bn in a successful deal that showed bond investors are not worried by the torrid time the company is having operationally.

Bayer, the German chemicals and pharmaceuticals firm, will issue about €3bn of hybrid capital as early as tomorrow, as part of the financing for its takeover of Merck & Co’s consumer care business.

Mauser, the German industrial packaging group, has set price guidance on $1.5bn of loans to back its buyout by Clayton Dubilier and Rice.