Citi
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Egypt is in market promoting a new deal: three tranches of benchmark dollar funding. Its 40 year tranche will be Egypt’s longest ever deal. -
Italian crossover credit Immobiliare Grande Distribuzione, a real estate company, has hired banks for a sub-benchmark bond issue and tender offer, as roadshow calendars remain packed with deals.
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Citigroup is forming a new EMEA sustainable banking team and has hired a senior sustainable banking expert who had spent two years away from the firm, working for a supranational.
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High grade dollar bond investors are braced for the biggest deal of the year after AbbVie, the pharmaceutical company, appointed a trio of banks to lead a possible $25bn issue that could come as soon as Monday.
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A pair of public sector borrowers hit the dollar market this week, pulling off strong deals at three and five years. Both enjoyed a clear field as euro-based borrowers stuck to their home currency thanks to an unpalatable basis swap rate.
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Investors staged a protest over pricing in the non-preferred senior bond market this week, causing one transaction to fail and putting two others at risk of falling flat. Comfortable with their returns for 2019 and happy to be able to choose from a glut of new bond offerings, funds have simply been happy to divert their attention elsewhere. Tyler Davies reports.
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Serbia has returned to the euro market after only four months, tapping the line it opened in June this year and raising cash to refinance dollar obligations it faces in 2020.
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National Express and Citycon mandated banks on Thursday for bond issues, piling into the November issuance spree before the market goes into hibernation next month.
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China’s Ministry of Finance has raised €4bn from a three tranche deal, returning to the euro market after 15 years away. The bond is expected to encourage Chinese issuers from across the credit spectrum to tap the euro market, writes Addison Gong.
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Volkswagen Finance (China) will come back to the Chinese auto loan ABS market after a two-year break on November 13. The Beijing-based originator is offering a Rmb5.97bn ($851m) dual-tranche note equipped with two international ratings.
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The Swedish Export Credit Corp printed a $1.25bn three year global benchmark bond on Wednesday, tightening the spread to land flat to its curve and aided by a favourable move in swap spreads.
