Citi
-
Korea Development Bank (KDB) is out in the international debt market this week, hoping to receive better reception than its last dollar bond in September 2014. -
Egypt’s Integrated Diagnostics Holdings rose 26% on Wednesday, its first day of trading in London, and has risen a further 11% since then, after the firm priced its massively popular rebooted IPO.
-
China Merchants Bank (CMB) New York branch scored an international bond market debut on May 7, receiving strong support from Asian investors but leaving enough money on the table to embrace the price demands of US investors. The borrower is the first of a string of Chinese banks lining up to sell bonds through their US branches.
-
Swiss cement maker Holcim is in a stand-off with its relationship banks over whether it can receive negative interest payments on its Swiss franc revolving credit facility, amid deeply negative interest rates, writes Elly Whittaker.
-
Europe’s insurers are planning a raid on the tier two market in the second quarter, but may have to wait until a growing pipeline of bank tier two is cleared.
-
-
The dollar market is providing public sector issuers with an opportunity for primary issuance as other major currencies — euros and sterling — are wracked with uncertainty.
-
Reed Elsevier has issued a €600m 10 year bond through a US financing vehicle in an SEC-registered, New York-listed format, after considering issuing in either euros or dollars.
-
Swedbank returned to covered bonds on Wednesday for its third funding exercise of the year, deciding to launch in Reg S format for its first dollar benchmark of the year instead of using its 144A programme. The decision came as the euro rates markets suffered a further bout of intraday volatility following last week’s instability.
-
Votorantim Cimentos on Thursday morning opened books on the first international Brazilian deal since a Petrobras corruption scandal in November. But the euro denominated reopener struggled in a rotten primary market and was unable to move pricing.
-
The year’s first bank capital deal from China ended with a bang as China Construction Bank (CCB) took full advantage of pent-up demand to print a jumbo $2bn tier two offering. The largest Reg S only tier two from China was not only impressive for its size but also because it was able to achieve a record low spread.
-
China National Petroleum Corp (CNPC)’s subsidiary Kunlun Energy Co successfully completed its inaugural dollar offering on May 6, continuing the success of Chinese gas and oil firms in the international debt market.
