Citi
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AusNet Services, the Australian electricity and gas distributor, issued a €560m 12 year bond on Friday, raising precisely the sum it wanted to swap into Australian dollars. The bond was priced close to the issuer's curve. -
Citi has announced the successor to Paul Young as head of EMEA debt capital markets and syndicate
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Italian electricity company Enel refinanced a €9.4bn credit facility on Thursday and reduced the margin on the loan from 190bp to 80bp over Euribor.
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Tuesday brought three block trades in Europe’s equity capital market. The European Bank for Reconstruction and Development sold its whole 5.1% stake in PKP Cargo, a Polish rail freight operator, for Z197m (€47m) via Goldman Sachs and Wood & Co.
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With up to $50bn of additional tier one deals expected to hit the bond markets this year, bank funding teams are praying that this evolving but crucial asset class can settle down and help them meet their capital needs.
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Apple may well be the darling of the bond markets but arch rival Microsoft proved that it is still a massive draw when it printed the biggest deal of the year at tighter spreads than its rival.
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Publicis, the French advertising firm, has signed a $1.6bn loan with maturities of 2018, 2019 and 2020 and a margin of 60bp.
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Tyco Electronics and Tyco International baffled bankers this week by announcing mandates for euro bonds within days of each other.
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The US bank has just enjoyed a stellar year in corporate and investment banking, but now it wants a top-three ranking across all products, writes David Rothnie.
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The Chung family finally managed to shed some of its shares in South Korean conglomerate Hyundai Glovis, raising W1.16tr ($1.06bn) via a block on February 5 that hit the market less than a month after an earlier transaction failed to gain traction. The presence of a domestic bookrunner, longer lock-ups on selling shareholders and more proactive conversations with investors ensured that this time round there was no room for any botch-up.
