Citi
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Only one equity block trade went ahead in Europe tonight, as Citigroup placed a €97m stake in Atresmedia, a Spanish TV and radio broadcaster and film producer.
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The European Investment Bank took a cautious approach to its 10 year EARN on Wednesday, opting to take longer than usual to execute the deal, now expected to be priced on Thursday. -
Bulgaria has indicated that it is considering up to three tranches with a maximum maturity of 20 years for its long awaited euro-denominated bond.
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Bank of China Aviation is planning to meet with investors over a potential dollar-denominated offering starting on March 18. But unlike all its previous outings, the aircraft leasing company is choosing a different route as it sets its sight on a 144A trade.
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Budget cuts and falling oil revenues may push Ecuador into printing a five or seven year bond to keep its costs down in a deal expected as early as this week.
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ICBCIL Finance wrapped up its maiden appearance in the international debt market on March 12. Market participants questioned whether the deal was done too cheaply.
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Two block trades of around $1bn went well on Thursday night, as GlaxoSmithKline sold half its remaining 12.4% stake in Johannesburg-listed Aspen Pharmacare, while private equity funds shed the last chunk of ISS, the Danish cleaning firm.
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Aareal Bank this week became the second German issuer this year to price a US dollar denominated Reg S Pfandbrief. It follows the lead of LBBW which priced a similar deal two weeks ago. Though the actual funding converted back to euros will have been nominally higher than what it could have achieved in euros, savings will have been made on swaps costs.
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A tricky secondary market was unable to derail the new issue pipeline in senior this week, with new deals selling well even as their predecessors underperformed.
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Two block trades have gone well tonight, as GlaxoSmithKline has sold half its 12.4% stake in Johannesburg-listed Aspen Pharmacare, while private equity funds have sold the last chunk of ISS, the Danish cleaning firm.
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Montenegro priced a €500m bond late on Thursday afternoon in London, printing its largest ever bond, though stuck with a five year tenor.
