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Deutsche makes huge strides in euro IG corps

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Deutsche makes huge strides in euro IG corps

Deutsche Bank has had an impressive run in the European investment grade corporate bond market this year, leaping from sixth to second year-to-date. GlobalCapital spoke to Frazer Ross, Deutsche’s head of investment grade syndicate for Europe, the Middle East and Africa, to find out the reasons behind its success.

  • European IG corp bond supply unlikely until end of August

    European IG corp bond supply unlikely until end of August

    The summer lull in the primary European investment grade bond market will likely continue for another week before the return of new issues from a mixed bag of sectors and across different structures, according to bankers.

  • Yunnan Energy adds senior perp to LGFV bonds

    Yunnan Energy adds senior perp to LGFV bonds

    Yunnan Provincial Energy Investment Group Co added a dash of variety to bond supply from China’s local government financing vehicles, by selling a $300m dual-tranche deal that combined a senior unsecured portion with an unsubordinated perpetual.

  • MTR defies HK setbacks for $1.2bn green bond

    MTR defies HK setbacks for $1.2bn green bond

    Hong Kong rail operator MTR Corp priced a larger and tighter green bond than expected this week, with investors showing their faith in a company that has been forced to battle protests and the pandemic in the past year. Morgan Davis reports.

  • Economist Brad Setser on swap lines: Fed acted with speed and force

    Economist Brad Setser on swap lines: Fed acted with speed and force

    Many saw the US Federal Reserve’s decision to lend hundreds of billions of dollars to certain central banks at the height of the coronavirus crisis as pivotal in preventing further calamity in global markets. Brad Setser, senior fellow for international economics at the Council of Foreign Relations, gives a great deal of credit to the Fed for its forceful intervention. But if markets begin to see the US central bank as a global lender of last resort, there may be a greater risk of imprudent behaviour and more political tumult in the US.

Corporate Bonds News Archive

  • Attractive Oz open through summer

    Attractive Oz open through summer

    While bankers in the Northern hemisphere plan well-deserved summer breaks, the Australian and New Zealand dollar markets are set to remain open for business, with some competitive pricing on offer.

  • University of Leeds funds new strategy amid dire sector warning

    University of Leeds funds new strategy amid dire sector warning

    The University of Leeds tapped its debut bond for another £50m on Tuesday, becoming the first UK university to come to the capital markets since the Institute for Fiscal Studies (IFS) warned of mass bankruptcies across the sector in a damning report earlier this month.

  • Investors need to stop imagining auditors or anyone else offers fraud protection

    Investors need to stop imagining auditors or anyone else offers fraud protection

    Several companies boasting Big Four accounting firms as auditors have emerged as fraudulent, leading many to wonder what value auditors bring to an investors' understanding of a company. The big issue is that auditors have little obligation to detect fraud at companies they audit, and neither it seems does anyone else. Until they do, investors need to stop believing a Big Four sign-off is a seal of approval. In fact, for a system supposedly built with its own reputation in mind, developed markets have offered investors very little protection.

  • Food for thought: Chinese issuers in euros

    Food for thought: Chinese issuers in euros

    Chinese food and beverage company Bright Food’s ability to court investors and push for a tight price for its euro-denominated bond shows the benefits ─ and downsides ─ of an aggressive approach to the euro market.

  • iTraxx Main prints tightest since Feb on low supply

    iTraxx Main prints tightest since Feb on low supply

    European high grade non-financial credit spreads dipped to their lowest levels in around five months this week, though corporate bond bankers said it is the lack of primary bond market activity rather than the breakthrough in EU fiscal stimulus that has ground spreads tighter.

  • Invesco shuffles fixed interest teams

    Invesco shuffles fixed interest teams

    Invesco has changed the line-up of its fund managers across a number of fixed interest funds, with Paul Read, co-head of fixed interest, stepping down from several funds.

  • State Power squeezes price on $1bn return

    State Power squeezes price on $1bn return

    Investors were unfazed by State Power Investment Corp’s (SPIC) move to tighten pricing on a $1bn bond by 52bp. The Chinese company’s deal was six times oversubscribed at its peak, and only tightened further in the secondary market.

  • Indian bonds suffer tough week

    Indian bonds suffer tough week

    Bonds from Indian corporations were among the worst performing investment grade deals in Asia last week. The primary market also suffered, with one deal cancelled and another put on hold.

  • Premier plans $210m equity raise for BP asset purchase

    Premier plans $210m equity raise for BP asset purchase

    Premier Oil, the UK oil company, has signed sale and purchase agreements to buy BP assets in the North Sea in a deal that could total up to $565m, with an equity raise earmarked to provide the funds for an upfront payment.

  • Stonegate preps bond sale for Ei takeover

    Stonegate preps bond sale for Ei takeover

    UK pub owner Stonegate held calls with investors on Monday for a bond issue, to partly refinance £2.73bn worth of acquisition facilities used to acquire a larger competitor, Ei. Stonegate is set to be one of the first UK borrowers hit by coronavirus to sell high yield notes.

  • Segro takes €450m private placements

    Segro takes €450m private placements

    Segro, the FTSE 100 UK real estate investment trust, has sold €450m of private placements, according to market sources. The largest tranche was the longest, €200m at 20 years, which is sign of investors' confidence.

  • MTNs expect summer lull in Europe while Asia charges on

    MTNs expect summer lull in Europe while Asia charges on

    The MTN market expects a busy summer in Asia as investors look to make up for time lost to the coronavirus pandemic at the start of the year. In Europe, things are starting to slow down, however, there are signs that the credit market could open up over the coming weeks.

Corporate Bonds News Archive