Barclays
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The Kingdom of Morocco sold a triple-tranche dollar deal on Tuesday, which bankers say was a successful attempt to enter into a rarely tapped market upon investors’ requests. -
Deutsche Bank is joining the ranks of banks that tie their top managers’ bonuses to sustainability targets, highlighting the fact that there is great variety in how this is done among leading investment banks.
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The Kingdom of Morocco, a rare bond issuer at the best of times and an even rarer dollar-denominated issuer, entered the market on Tuesday to raise a triple-tranche dollar bond. The deal is the second from the North African sovereign in recent months.
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Barclays has invited holders of some of its legacy tier two bonds to exchange their notes for cash, as it looks to smarten up its debt capital structure.
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Société Générale took advantage of superlative conditions in the US dollar market at the start of the week, raising $2bn of funding with a tightly priced deal in non-preferred senior format.
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Chinese property developer Logan Group Co courted investors with a six year bond on Monday, raising $300m from a solid order book of $3.3bn.
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European banks will have longer than expected to correct the fallback language in their dollar-denominated additional tier ones (AT1s), now that dollar Libor has been given an extra 18 months to live.
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Barclays plc priced a short-dated senior deal about five basis points through fair value in the dollar market this week, as Brexit negotiations come down to the eleventh hour.
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Banks bombarded the dollar market this week with a rich variety of trades in what promises to be a busy run-in to the end of the year with investors still in the hunt for primary deals.
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The dollar bond market is wide open for companies to take advantage of strong demand and a rally in spreads, boosting hopes for a busy end to a record year for investment grade issuance.
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Banca Monte dei Paschi di Siena led a trio of speculative grade Italian banks into the euro bond market this week, as credit investors showed that no issuers were off limit in their increasingly desperate search for yield. Tyler Davies reports.
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