Citi
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The first quarter results of the major US firms show in detail just how painful the early volatility in the year has been, with double digit percentage point declines in multiple business lines.
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Italy wowed the market on Tuesday with the second blow-out 20 year sovereign benchmark in as many weeks, as bankers tipped other issuers to try out the unconventional maturity.
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Books were several times oversubscribed and new issue premiums often dropped to zero this week, ahead of an ECB move that was widely expected — but everybody is aware that market backlashes do happen. -
Aroundtown Property Holdings, the German residential and commercial property company, has abandoned its attempt to induce holders of its €450m pre-IPO convertible bond to convert the bonds to equity.
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Two single-B credits launched in the European high yield market this week — Cirsa and Preem — taking April's tally to four. Only six single-B deals of at least €100m have been priced so far this year, with some observers expecting the stream to continue.
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At a time when banks are desperate to lend to merger and acquisition deals, some key relationship banks have been reported missing from the $20bn loan for ChemChina’s takeover of Swiss seeds maker Syngenta. Robert Cooke and Elly Whittaker report.
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Panama’s Global Bank eyes Asia liquidity — Indo Eximbank in $725m fundraising — Protelindo in bilateral talks
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BOC Aviation has made a successful landing with a new 10 year bond in 144A format, shrugging off concerns over its ownership change after a planned IPO this year.
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BoC Aviation attracted a horde of investors to its first 10 year bond in 144A format ahead of a planned IPO in Hong Kong. While the proposed listing caused concern among some investors about the company's ownership, bankers on the deal say that the notes’ primary and secondary performance indicates they were in a minority. .
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Buzzi Unicem, the BB+ rated Italian cement and concrete group, on Wednesday issued €500m of seven year notes with minimal support from high yield funds.
