Citi
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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. -
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.
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UK oil company BP priced a €2.5bn bond on Wednesday, using a tried and tested eight and 12 year format, following the success of a €3.75bn deal by Norwegian rival Statoil on Tuesday. The deal was well received, getting €3bn of orders for each tranche.
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Citi has promoted Aziz Rahman to head of corporate finance for sub-Saharan Africa, filling the role left vacant by Martin Mugambi late last year when he moved to become CCO of Zambia.
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The Republic of Bulgaria has said it is mandating Citigroup, HSBC, Société Générale and UniCredit as “arrangers and dealers” on its €8bn global medium term note programme, according to a release on the country’s Ministry of Finance website. The programme was signed on February 6.
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State Bank of India is expected to hit the market in March for its jumbo Rp150bn ($2.4bn) equity raising, in what would be yet another chunky deal for the country’s ECM market.
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Peruvian conglomerate Intercorp Perú will buy back some $238.175m of its outstanding 8.625% notes after 95.27% of investors holding the $250m notes agreed to tender their paper before the deadline of 4pm London time on Tuesday.
