Citi
-
Portugal brought a dual tranche syndicated tap this week, in what some bankers felt was a disappointment amid a busy market where every other deal went well — but the leads were quick to defend the trade.
-
-
The European Investment Bank and the European Union kicked off April by printing impressive benchmark deals, yet despite this strong start to the quarter SSA bankers fear that a combination of the threat of a Brexit and the low yields on offer in the euro market will make conditions extremely challenging for issuers.
-
-
-
The Schaeffler family’s €1.24bn clear-out block trade in Schaeffler non-voting shares failed to clear on Monday night, leaving the four lead banks long of the stock. -
Strong demand was expected to propel South Africa’s new 10 year note to a successful conclusion, with a 35bp-50bp concession tantalising investors before the US open, despite a political crisis in the country.
-
The short end of the dollar curve is enjoying a purple patch, with public sector borrowers drawing big books and pricing with much lower new issue premiums than earlier in the year.
-
Portugal breathed some liquidity into a pair of outstanding bonds on Wednesday with its first syndication since January, achieving much lower premiums than its last syndication, according to bankers.
-
The European Union proved that for the right issuers there is considerable demand at the 15 year point of the curve, with the Joint Länder planning a return to the market with a seven year benchmark for the first time since a mooted deal in February stalled.
-
Equity capital markets teams at banks will need a very good second quarter to make up for the weak first one, which left volume more than 50% down on last year’s run rate in both Emea and the Americas.
-
Korea National Oil Corp (KNOC) navigated a crowded primary market on Tuesday to seal a $1bn dual-tranche bond. Thanks to the credit’s safe-haven status, onshore investors piled in, allowing the firm to price the deal flat to its existing curves.
