Citi
-
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. -
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.
-
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.
-
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.
-
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.
-
Severstal has bought back $221.4m of its 2016 and 2017 bonds after raising the buyback price last week. The Russian steel company had hoped to buy back up to $600m of the bonds.
-
BBVA is looking to cut the cost of raising additional tier one capital on its third such transaction in two years, announcing initial price thoughts of high-6% area for a perpetual non-call five year trade in euros, compared to the 7% it paid to sell a euro perp non-call five year in February 2014.
-
The Spanish government is set to price its privatisation of Aena, the state airport operator, this evening. The flotation of a 49% stake has attracted strong demand and looks set to be a big win for the government, potentially netting it up to €4.26bn.
-
Mitsubishi UFJ Lease & Finance Company has mandated banks to arrange a series of investor meetings that may lead to a US dollar Reg S bond.
-
The Chung family has finally managed to shed some of its shares in South Korean conglomerate Hyundai Glovis, raising W1.16tr ($1.06bn) via a block trade on February 5 that hit the market less than a month after an earlier transaction failed to gain traction among investors. The presence of a domestic bookrunner, longer lock-ups on the selling shareholders and more proactive conversations with investors ahead of launching the trade ensured that this time round there was no room for any botch-up.
-
LatAm DCM bankers were surprised and impressed that Argentine oil company YPF raised $500m of new debt this week with the sovereign default unresolved and oil prices falling. But the smaller than planned size and hefty new issue premium mean few are expecting a burst of new issue activity from the country, despite the City of Buenos Aires preparing to meet investors.
-
