Citi
-
-
The Indian high yield bond market is finally getting its act together following a stop-start year with JSW Steel going live with a five year dollar bond on November 5. -
Mexican IT service provider Six Sigma Networks (Kio) sold a $500m seven year deal on Tuesday well inside price talk to show that the market is wide open for LatAm high yield despite rating agency warnings this week that the region’s sub-investment grade borrowers will be more affected than most by changing external conditions.
-
Industrial and Commercial Bank of China New York is out in the market with a triple tranche senior dollar, as fellow Chinese big banks China Construction Bank and Bank of China market tier two bonds.
-
European companies from beleaguered industries, new to the market or under investor pressure had better think twice before they enter a high yield market willing to teach them a lesson before the year ends.
-
Ireland's longest dated benchmark in five years is more than twice subscribed, allowing leads to set pricing at the tight end of guidance.
-
Council of Europe Development Bank (CEB) has hired lead managers to run the first five year dollar syndication since a pair of deals failed to cross the line three weeks ago amid strong volatility in US Treasuries. Sweden and Caisse des Dépôts et Consignations brought deals with more conservative maturities.
-
Hella Hueck, the family-owned German car lighting and electronics maker, has set the price range on 5.75m of its shares at between €25 and €28, or €144m at the bottom of the range.
-
The Province of Trento’s funding arm Cassa del Trentino came to market early with a long dated medium term note to take advantage of strong performance in Italian government bonds. Meanwhile, Cassa Depositi e Prestiti mandated banks for a roadshow.
-
Ireland is this week set to price its longest-dated benchmark since its international bailout in 2010. Proceeds, coincidentally, are earmarked to pay off one of its bailout creditors. Fellow eurozone periphery countries Spain and Greece will join Ireland in the market this week with auctions.
-
Combined books for Kazmunaigas’s dual tranche $1.5bn dollar bond had reached $9bn at their peak before pricing on Friday inside its own curve, despite KMG having cut the change of control clause in its bond documentation to 75% state ownership.
-
Cheil Industries, the de facto holding company of South Korean conglomerate Samsung Group, started pre-deal investor education for its W1.52tr ($1.4bn) IPO on Monday, November 3, with bookbuilding set to begin at the end of the month.
