Citi
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Public sector bankers have backed claims by Greece’s finance minister that the country could return to the capital markets this year “with or without QE”. The fact that another periphery sovereign, Spain, was able to print a stellar trade on Tuesday despite comments by European Central Bank president Mario Draghi sending markets in a tizzy about the possible end of QE further bolstered the statement, bankers added. Craig McGlashan reports. -
All of the 34 banks taking this year’s Federal Reserve stress tests passed for the first time in the test’s history. For the European-owned firms, that reflects concerted efforts to improve their qualitative processes, while for the major US firms, the result has set off a bonanza of capital returns.
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The 10 year dollar market is back open for supranational issuers, after the Inter-American Development Bank (IADB) sold a barnstormer on Wednesday that broke its 10 year size record.
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Italian debt servicing firm DoBank started bookbuilding on Friday for an IPO of up to €292m in Milan, as an expected increase in troubled loans spurs investor interest in the sector.
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Dollar borrowers wrapped up their funding projects before the July 4 holiday weekend and dodged a global sell-off as central bankers pointed to the end of monetary stimulus.
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Citigroup has hired its third senior banker in a week with the appointment of the former co-head of Deutsche Bank’s European corporate finance business.
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The Loan Market Association has appointed four new board directors following its annual general meeting on Wednesday.
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Indonesia has announced plans to meet investors in continental Europe next week ahead of a potential dual tranche euro and dollar bond placement.
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Haitong Securities filed a draft prospectus in Hong Kong on Wednesday for the spin off and listing of its leasing unit Haitong UniTrust. The IPO is expected to raise around $500m, according to a banker close to the deal.
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Kazakhstan’s Nostrum is planning a combined debt buy-back and new issue, and will meet investors from Monday and will be hoping to emulate the success of national oil champion KazMunayGas in April this year.
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Naspers returned to the eurobond market after a two year absence on Thursday, releasing initial price thoughts for a new dollar benchmark.
