BNP Paribas
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French consulting company Capgemini wasted no time after the Easter break in announcing a new dual-tranche corporate bond issue on Tuesday. The benchmark tranches had 6.5 year and 10 year tenors and were announced alongside a tender offer, but the issuer had to pay a significant premium to its secondary curve. -
Three CEEMEA issuers are embarking on roadshows — the Arab Republic of Egypt, Sharjah Islamic Bank and Kazmunaygaz.
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Investec Bank plc has signed a A$150m ($115.3m) loan to refinance a loan signed in 2015, attracting a total of 18 banks to the deal — the majority of which came from Asia.
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Adira Dinamika Multi Finance, an Indonesian finance company, has launched a $250m term loan into general syndication, about seven months after sealing its previous fundraising.
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Czech investment fund PPF Group has kicked off the syndication of a €3.025bn loan, which was used to fund the acquisition of Norwegian telecoms group Telenor’s central and eastern European operations.
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US beauty retailer Coty announced pricing at the wide end of guidance for its $2.45bn-equivalent of new leveraged loans on Thursday, while reaching the end of the roadshow for $2bn-equivalent of new high yield bonds.
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Volatility from several sources has driven investors into core govvie products, causing curves to rally. Only one issuer was positioned to reap the benefits.
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The Kingdom of Bahrain was set to print a $1bn 7.5 year sukuk on Wednesday evening from a book of $2.2bn, with leads having managed to crunch the coupon to 6.875%. Rivals had called the guidance for the note “a new record” high for a new issue premium, but leads said the illiquidity of the sukuk curve rendered the concept of new issue premium almost meaningless.
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Les Cinémas Gaumont Pathé, a subsidiary of Pathé Group, has issued an inaugural Euro PP transaction in what is a large size for the busy market.
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France’s inflation linked bond issue on Wednesday drew the nation's largest book ever for a linker bond, in spite of a curve squeezed tight by volatility.
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A selloff led by worries over tech and tariffs has continued from last week, with some bank strategists beginning to doubt there will be a return to the market conditions seen in January and the second half of 2017.
