Citi
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Investors have begun to push back against ever tighter levels in the public sector dollar market, with a deeply sub-Libor trade this week failing to find full subscription. But there was not much concern ahead of next week’s Easter holidays, with some strong funding already raised in the first quarter and the new Federal Reserve chair’s first Federal Open Market Committee meeting passing this week without any great surprises. -
Russian gold miner Nordgold and coal company Siberian Coal Energy Co (Suek) signed syndicated loans in the week leading up to Vladimir Putin’s victory in the Russian general elections.
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French supermarket group Carrefour returned to the equity-linked market on Thursday to sell a $500m equity-neutral convertible bond due in January 2024.
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Anheuser-Busch InBev timed a $10bn multi-trancher to perfection this week as it jumped into the market to extend maturities ahead of the Federal Reserve’s rate interest rate hike.
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Spanish utility Iberdrola had significant success with its debut green hybrid bond in November when it received €3.2bn of orders. However, its second such bond failed to tighten from initial price thoughts when it was issued this week.
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Hong Kong stole the show for overnight share sales in Asia this week as three transactions worth a total of $1.3bn were priced — before a monster $10.6bn sell-down in Tencent Holdings launched as GlobalCapital Asia went to press on Thursday.
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Global internet and entertainment group Naspers launched a block sale of Tencent Holdings shares on Thursday, looking to raise $10.6bn, according to a term sheet seen by GlobalCapital Asia.
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The Kingdom of Bahrain has announced the only new CEEMEA bond mandate of the week so far, looking for a multi-tranche benchmark deal to follow its storming last foray into the international bond markets in September.
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Asia’s dollar bond issuers were back in the market on Thursday after taking a pause during the US Federal Open Market Committee meeting this week.
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GlobalCapital revealed the winners of its Equity Capital Markets Awards 2017 at our third annual Awards Dinner in London on March 20. CEOs and CFOs were present to collect Awards for landmark deals such as the UniCredit and Santander rights issues and the IPOs of Allied Irish Banks and Pirelli.
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The Nordic Investment Bank has announced that it will become the second borrower of the week to access the two year dollar market. The first, Kommunalbanken, scooped up $1.25bn on Tuesday.
