Citi
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CPPIB Capital, the Canada Pension Plan Investment Board, dived into the long end of the sterling bond market on Monday for a bumper follow-up to January’s jumbo debut. -
Agence Française de Développement (AFD) will tap the dollar market this week to become the latest public sector borrower to print a bond in response to the coronavirus pandemic.
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Europe’s high grade corporate issuers began the week deploying their recent tactic of tightening spreads aggressively during bookbuilding from cheap starting points, with Elia Transmission Belgium ratcheting in its spread by 60bp from initial price thoughts.
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Tesco, the UK grocer, found the queues for its sterling bond issue on Monday were almost as long as those for its toilet roll. Pent-up demand for sterling debt meant its £450m trade was more than eight times oversubscribed and priced through higher rated comparable debt.
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Credit Bank of Moscow, one of the few Russian banks to frequently tap the international syndicated lending market, has raised a loan from a consortium of international banks. The deal comes amid an increasing number of Covid-19 infections being reported in Russia, which is now one of the emerging markets with the fastest-accelerating growth of cases.
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Lenovo Group took a cautious approach to its $650m bond issuance last Friday, opting for size instead of price and offering investors a hefty premium for its deal.
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Citi has named Alex Cartel as a managing director and head of investment banking for Australia and New Zealand, hiring him from Deutsche Bank.
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SK E&S, a South Korean energy company, has raised HK$11.55bn ($1.49bn) by selling most of its shares in China Gas Holdings near the top of the marketed range.
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Citi has announced a host of country-specific relief measures for some of its Asia Pacific clients impacted by the Covid-19 pandemic, including fee waivers for loan extensions and the option to restructure borrowings.
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High quality Yankee issuers showed their spirit of adventure by printing front-end trades this week, returning to a part of the curve that has been starved of supply since the start of the coronavirus crisis.
