Citi
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Sovcomflot, the shipping company majority-owned by the Russian state, is planning to enter the debt capital markets. But the dollar bond mandate comes at a tricky time as military escalation between Russia and Ukraine has caused investor confidence of assets on both sides to fall. -
South Korean auto company Kia Corp made its green bond debut on Monday with its first dollar deal since 2017, pricing both tranches at tight levels due to strong support from ESG-focused investors.
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Casino operator Genting Malaysia bagged $1bn from a 10 year bond on Monday, surpassing the size expectations for the trade.
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A slew of mandates hit Europe’s high grade corporate bond market on Monday, with issuers increasingly adding their ESG ratings to investor communications that cover their whole enterprise, even if the deal being marketed is not a designated socially responsible investment.
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Europe’s primary convertible bond market has reopened after the Easter break with two new deals on Friday from issuers with very different sector profiles.
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Mining company Korea Resources Corp (Kores) courted dollar investors with a five year transaction this week, marking its return to the bond market after a gap of three years.
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Marvell Technology, the Bermuda-registered US chipmaker, jumped into the dollar bond market this week with a $2bn trade linked to a $10bn acquisition, after clinching the deal more quickly than expected.
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Esoteric names from the FIG market are expected to fill the post-Easter issuance pipeline to take advantage on the constructive market conditions on offer.
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European banks face tough conceptual and regulatory barriers as they enter the market for sustainability-linked debt. But DCM bankers hope that they can find a simpler solution for issuers by focusing on covered bonds, write Tyler Davies and Bill Thornhill.
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KfW and CPPIB Capital achieved super tight pricings in the short end of the US dollar market on Thursday, with the former bringing the first deal with a negative spread to mid-swaps in the currency by a public sector borrower this year.
