Citi
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KfW and Bpifrance hit screens with taps of existing debt on Tuesday, with levels so tight that the sovereign, supranational and agency market’s best rated names are finding it trickier to get traction from investors. -
On Tuesday, the European Investment Bank took a near-identical approach to KfW on Monday, as it tapped a bond at the short end in sterling, and found similarly strong levels of demand, allowing it to issue £150m more than its planned minimum target.
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US-based energy trading firm Castleton Commodities International has signed $2.775bn of loan facilities, with European banks making up a large part of the group.
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Turkey announced a five year dollar Global benchmark on Tuesday, returning to the market for the first time since March and making the most of the rally in Turkish assets.
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Bond investors will have a chance to give a further indication of their appetite for Argentine risk as Pampa Energía looks to follow in YPF’s steps and continue to reactivate the primary markets from the country.
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KfW restarted the sterling SSA bond market on Monday, with the first public deal since early June. The German agency found good demand, allowing it to print a size above its minimum target.
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Żabka Polska, an operator of Polish convenience stores, has launched a syndicated loan to fund a dividend recapitalisation, according to bankers. The transaction is following closely in the footsteps of fellow Polish corporate, Allegro, that closed a Z2bn (€470m) dividend recap in May.
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Citi has named Hsiu-Yi Lin as the new head of commercial bank for Asean.
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The prospect of a blockbuster bond deal from US pharmaceutical group AbbVie was welcomed by dollar bond investors this week, after corporate issuance tumbled to its lowest monthly tally this year.
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Rates are low and keep getting lower, so investors are having to turn to higher yielding forms of debt to put their money to work and get a respectable return. Issuers, particularly in the Middle East, are happy to oblige as far as their regulatory capital needs will allow.
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Volkswagen has closed the books on the long-awaited spin-off of its truck division, Traton, at €27 a share, the bottom of the price range. It was a positive result for the company, according to sources speaking to GlobalCapital.
