Barclays
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Volkswagen showed its elite status in the debt capital market again today by issuing €3bn of hybrid capital – the largest corporate hybrid ever sold entirely in euros.
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Virgin Media underlined its credit quality and the strength of its owner Liberty Global by issuing a three tranche high yield bond with 10.75 year and 15 year maturities on Friday.
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Nasdaq-listed China Mobile Games and Entertainment Group (CMGE) is tapping the US equities market for $100m of new capital, launching a placement of new American Depositary Shares on March 14.
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LatAm syndicate bankers say they believe this week’s three deals from financial issuers are a sign of more supply to come from the sector as Brazil’s Banco Daycoval received such strong demand that it printed $500m on Wednesday having originally intended to sell a bond of less than benchmark size.
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Gulf Marine Services is set to raise £66.9m through its initial public offering, having priced its shares at 165p.
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The Republic of Azerbaijan brought its long awaited debut bond to the market this week. The country launched a successful $1.25bn 10 year transaction and showed that some issuers in the CEE region have remained largely immune to rising tensions between Russia and Ukraine. But bankers are unsure whether this will still be the case after a Crimean referendum at the weekend.
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UK specialist medical equipment manufacturer Lombard Medical Technologies is set to withdraw from its listing on London’s AIM to launch an $80m IPO in the US.
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Westpac this week issued its first euro denominated covered bond deal of the year and the second from an Australian issuer. The deal was only modestly oversubscribed as bank treasuries weren't interested because the bond is ineligible for liquidity buffers and repo with the European Central Bank.
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Santander and BNP Paribas printed their first dollar trades of 2014 as demand for investment grade paper continued its strong run.
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Crédito Real underlined the strong market conditions Latin American borrowers are enjoying in March after a barren February, wasting no time in tapping a bond it issued less than a week ago.
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