BNP Paribas
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A pair of senior non-preferred bonds from Swedbank and Société Générale on Tuesday followed Monday’s opener from ING. With three household names now having established pricing points, rarer borrowers are starting to fill the pipeline. -
The Republic of Slovenia has repeated its 2020 feat of being the first sovereign issuer in CEEMEA to launch a bond by coming to the market with a mandate on Tuesday. Despite the apparent rush for bond funding, however, many believe that EU funding will provide some of what CEE countries would otherwise have taken from public bond markets.
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American insurers Metropolitan Life and Athene Holding had a busy start to the year as they tapped the sterling, euro and dollar markets to issue a quartet of funding agreement backed (FAB) securities.
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Hong Kong’s block market surged back to life on Monday night with a flurry of share sales worth a total of HK$14.19bn ($1.83bn).
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Nobody will forget 2020 in a hurry. It was the year in which a coronavirus pandemic swept across the globe, created economic chaos and forced central banks into swift action. The resulting measures helped to underpin financial markets, bringing yields from record highs in March to record lows in December. But the outlook has always remained uncertain for banks and insurance companies, whose balance sheets are yet to feel the full impact of the crisis. In such a testing year, GlobalCapital wanted to reward the bond deals that achieved stand-out results for issuers — in terms of pricing, execution and timing. The winners are presented here.
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The coronavirus has smashed the usual hierarchy of companies, large and small, creating new winners — and many losers. While 2020 was about finding ways to keep their financial lifeblood flowing, in 2021, more permanent solutions will need to be found. This will include bond funding for those still shut out — and M&A. Mike Turner reports.
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This year proved to be one of the most dramatic on record for corporate financiers as volumes rose from the ashes of the market sell-off. David Rothnie examines some of the themes that defined the year and looks ahead to 2021.
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Klépierre, the French shopping mall company, has signed a €1.385bn sustainability-linked revolving credit facility, with the coronavirus pandemic-hit borrower pushing out its refinancing needs to March 2024.
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Gaming company Wynn Macau benefitted from a revival in sentiment around the casino industry for its bond return on Tuesday. It raised $750m from a tap of its 5.625% 2028 notes.
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Small appliance retailer Vesync has bagged HK$1.55bn ($200m) from its Hong Kong IPO, pricing the deal at the top of the guidance range.
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Ukraine, which has proven itself a favourite of emerging market investors this year, has slipped into international markets for a small dollar tap before year-end. The trade comes amid strained negotiations between Ukraine and the IMF over the disbursement of emergency funding.
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