BNP Paribas
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China Life Insurance Company opened books on June 25 for the country’s first core tier two subordinated notes under the sector’s new regulations. The firm is launching the trade at a time when markets are still digesting news of the absence of a deal with Greece on its debt repayment. -
The corporate bond market got back on its feet with vigour on Wednesday, as Capgemini in particular impressed, with a hefty size and even heftier order book for a triple tranche deal — though it had to pay a large new issue premium.
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Bond issuers in Asia are rushing out to meet investors with Beijing Energy Investment Holding (BEIH), China Overseas Land International and Shanghai Construction Group on the road.
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Details on the margin for Bank Rakyat Indonesia’s (BRI) $550m borrowing have come to light. Although at this point the loan is likely to wind up as a club, some banks are keeping the possibility of further syndication open.
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The UK Debt Management Office kicked off its syndication schedule for the 2015-16 financial year with a bond that was more than two times subscribed.
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Leveraged finance bankers said on Monday that Altice could get “financing at the drop of a hat” for a possible takeover of rival Bouygues Telecom, but added that negotiations for the deal could be hairy.
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High grade borrowers are set to pull the trigger on a slew of refinancings and M&A deals after the Federal Reserve took a big step closer to its first interest rate rise since 2006 following the conclusion of a two day meeting in Washington on June 17.
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Comments from US Federal Reserve chair Janet Yellen this week have fuelled expectations of a rate rise this year — but dollars should remain more attractive for issuance than euros.
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The potential for options to both magnify and soften credit blow-outs was demonstrated this week, as Greek default fear gripped the market and sent credit index spreads surging wider.
