BNP Paribas
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KfW and SFIL printed $4.25bn of debt on Tuesday, with both deals looking as if they paid a few basis points over fair value. That marks a return to new issue premiums in the dollar market for sovereigns, supranationals and agencies. -
South Korea’s Shinhan Bank sold Asia’s first dollar-denominated UN Sustainable Development Goals-linked bond on Monday, raising $400m from the Basel III-compliant tier two deal.
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Three Chinese property companies raised a combined $1.625bn from international bond sales on Monday, continuing the flow of high yield paper into the offshore market.
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Europcar has launched a €450m high yield bond to refinance its 2022s and likely cut coupon costs, as yields have come down for senior unsecured debt amid a dearth of bond supply.
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The sovereigns, supranational and agency market poured into dollars on Monday with two issuers announcing price thoughts for deals and a third potentially due on screens after investor meetings.
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Shares in Stadler Rail, the Swiss maker of rolling stock, gained as much as 12.9% in trading on Friday after it priced its Sfr1.33bn IPO at a discount to its Swiss industrial peers.
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Italmatch, a chemical additives company owned by Bain Capital, has announced a €200m add-on to its €410m senior secured floating rate note, to repay the acquisition debt it took on to buy BWA Water Additives.
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KFW and Bank Nederlandse Gemeenten (BNG) were able to come flat or just through the curve with their long-end trades in the euro public sector market this week.
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Hungry for some social purpose, and perhaps a longer maturity, investors hoovered up Yorkshire Water’s first sustainable bond on Thursday. This allowed the UK utility to tighten the pricing to fair value or even tighter.
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Ineos, with a split high yield/investment grade rating, announced a drive-by €770m seven year non-call three bond issue on Monday, refinancing its 4% 2023 bond of the same size.
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Bank of China sold another blockbuster Belt and Road transaction on Wednesday, raising $3.8bn across eight tranches of notes in five currencies across five bank branches, It was the largest transaction sold under the BRI label.
