Citi
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SSAs in the dollar market had largely failed to impress this week, providing only a single dollar benchmark. However, one Washington supranational changed that with a remarkable deal on Thursday.
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A decent start to the week gave way to caution as escalating geopolitical concerns slammed the brakes on US high-grade dollar supply. -
The dollar market had largely failed to impress this week, providing only a single dollar benchmark. However, one Washington supra changed that with a remarkable $4bn deal on Thursday.
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European high yield bond issuers roadshowed for seven lower rated new offerings this week, leaving behind the quiet of the post-Easter recess. What followed was a vigorous tug of war over pricing and terms in which bankers and investors claimed different victories.
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Sarimelati Kencana, the owner of the Pizza Hut franchise in Indonesia, began premarketing its $100m IPO this week, as the country’s equities market gears up for more action.
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Bank of China (BOC) returned to the bond market with a Belt and Road blockbuster this week, raising around $3.2bn from a multi-tranche, multi-currency deal. Addison Gong reports.
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The Democratic Socialist Republic of Sri Lanka grabbed $2.5bn from its largest bond on record on Wednesday, as investors showed their support to a country that has been buffeted by numerous problems recently.
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UniCredit sold its remaining stake in Italian wind operator ERG for €118m to an eager investor base after markets closed on Tuesday evening.
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The Kingdom of Saudi Arabia printed its $11bn bond on Tuesday, which several bankers and investors thought had been timed to maximise disruption of Qatar’s return to market, which is also expected this week. But leads said the modest size taken by Saudi from a $50bn book showed that there was no intention of throwing the capital markets into disarray.
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Korea Resources Corp (KoRes) navigated a number of hurdles to complete its $500m bond on Tuesday to imminently refinance maturing notes. The company found plenty of support for its annual issuance, but only after it offered a juicy premium to investors.
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Bank of China has priced bonds denominated in US dollars, euros and Australian dollars worth $3bn-equivalent, with another two tranches in New Zealand dollars set to be priced on Wednesday. The deal, sold under different branches of the bank, reflects the relentless bid for floating rate notes (FRNs).
