Citi
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The Republic of Armenia has mandated banks to arrange a dollar bond just months after its brief conflict with Azerbaijan over the disputed Nagorno-Karabakh territory. The sovereign is the latest high yielding emerging market government to tap debt markets. -
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Four US global banking titans roared out of earnings blackout to raise more than $20bn of debt this week, issuing deals either side of president Joe Biden’s inauguration.
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Primavera Capital Acquisition Corp, a so-called blank cheque company, has raised $360m from a larger-than-expected New York Stock Exchange IPO that has added further momentum to the increasingly hot asset class.
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Chinese property developer Sunac China Holdings has managed to reprice its secondary curve by raising $1.1bn from tightly priced bonds.
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Companies in the same sector often copy each other, but this year's string of bond issues by aircraft lessors has been exceptional, and is prompted by the sector's credit rehabilitation. Air Lease Corp took the recovery past a new milestone this week.
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Tesco, the UK grocer, made a storming debut in the nascent sustainability-linked bond market on Wednesday, encouraging bankers who already expect corporate issuance using the novel structure to rocket this year.
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The State of North Rhine-Westphalia found plenty of demand as it came to the market with a new 30 year benchmark on Thursday, ahead of the European Central Bank’s first monetary policy meeting of the year.
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Groupe Bruxelles Lambert, the Belgian investment holding company, found a warm response from the bond market on Thursday, despite the potential distractions of a European Central Bank meeting being held on the same day.
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Investors have enthusiastically backed a €4.6bn financing package for Ineos Quattro, funding the integration of BP’s aromatics and acetyls business into the chemicals conglomerate. Strong demand allowed the company to raise more secured debt than expected, cutting funding costs, and strip out a bank-targeted term loan ‘A’ in favour of a bigger, cheaper, institutional term loan ‘B’.
