Corporate Bonds

  • Bond investors are playing with fire

    Bond investors are playing with fire

    Asia’s bond market has had an undeniably stellar start to 2020. Despite the spread of the novel coronavirus, now named Covid-19, investors are continuing to buy bonds at remarkably tight prices as issuance accelerates. But the non-stop enthusiasm raises a serious question — are market participants too positive?

  • Suzano tempted by Enel-like structure, Mexico markets SDG bond

    Suzano tempted by Enel-like structure, Mexico markets SDG bond

    Brazilian pulp and paper company Suzano is working on structuring a bond that would reflect its commitment to sustainability. But its chief financial officer told GlobalCapital that the green bond market was unable to maximise the impact capital markets could have on sustainability.

  • Superlatives fly as Swiss funds cry for bonds

    Superlatives fly as Swiss funds cry for bonds

    Intense demand in the Swiss franc bond market for any asset with a positive yield — or even anything yielding more than the penal negative rates on cash — gave a varied group of issuers this week execution that pushed the boundaries — bigger, faster and tighter.

  • HSBC’s restructuring: is it enough though?

    HSBC’s restructuring: is it enough though?

    HSBC’s corporate finance staff have survived its restructuring largely unscathed, but the more ambitious among them will see the bank’s plans as a missed opportunity, writes David Rothnie. And with no answer yet on the identity of the next full-time CEO, the uncertainty is not over.

  • Water companies re-enter market fray after Ofwat purgatory

    Water companies re-enter market fray after Ofwat purgatory

    UK water utility companies have begun to test public and private debt markets for the first time since regulator Ofwat’s price review, and the deadline to appeal it, passed. The regulator’s decision will have large ramifications for the companies’ profiles in capital markets, writes Silas Brown.

Corporate Bonds News Archive

  • UK's Cadent Gas to bring rare transition bond

    UK's Cadent Gas to bring rare transition bond

    Cadent Gas, the UK gas distribution network spun off by National Grid in 2017, will roadshow from Tuesday next week for a €500m transition bond. The deal is likely to delight green bond specialists who have championed the idea of transition bonds as a way to finance companies that are not green, but are moving towards lower carbon business models.

  • GlobalCapital Bond Awards 2020: the poll is open

    GlobalCapital Bond Awards 2020: the poll is open

    The poll to determine GlobalCapital's Bond Awards 2020 is open. Over the next three weeks, market participants are invited to choose the firms and individuals who have performed most impressively in the past year.

  • India brings steady bond  supply to dollar market

    India brings steady bond supply to dollar market

    International bond volumes from India so far this year have almost doubled from the same period in 2019, showing the strength of the country’s issuers as they continue to emerge from a turbulent period. Debt bankers are optimistic that India is set for a strong 2020, writes Morgan Davis.

  • Greater China issues slew of international bonds

    Greater China issues slew of international bonds

    Chinese corporations bombarded investors with new bond options on Wednesday, allowing three issuers to raise $625m between then. Hong Kong-based asset manager ESR Cayman joined the fray in Singapore, grabbing S$225m ($161.55m).

  • US companies bring euro high yield back

    US companies bring euro high yield back

    After a pause last week, the primary high yield bond market in euros has bounced back with two new mandates on Wednesday, unsecured deals for US firms Catalent and Silgan. Both deals are in popular industries and refinance existing debt, with leveraged finance bankers telling clients there’s no time to print like the present.

  • Relx readies up for roadshow

    Relx readies up for roadshow

    Relx Finance, the funding arm of UK specialist publisher Relx, has hired banks to arrange a roadshow for a triple tranche bond sale, with maturities out as far as 12 years.

  • Sustainability a far cry from the fusty world of US PPs

    Sustainability a far cry from the fusty world of US PPs

    Several chances to demonstrate commitment to corporate sustainability have occurred in the US private placement market recently, and the market has fallen short in almost every case. Most of the PP market is as unfamiliar with using the term 'ESG' as it is to yelling 'YOLO'.

  • JP Morgan appoints new heads of IB, DCM, ECM, M&A

    JP Morgan appoints new heads of IB, DCM, ECM, M&A

    JP Morgan has promoted a whole new layer of leadership in its investment bank, reaching down to debt capital markets, equity capital markets and M&A. At the top of the tree, Carlos Hernandez has moved from being head of global investment banking to executive chair and has appointed new co-heads of global investment banking.

  • Hiding the impact of IFRS 16 is of no benefit to anyone

    Hiding the impact of IFRS 16 is of no benefit to anyone

    Some of the more creative souls in corporate debt markets are trying to find ways to gloss over the impact of the IFRS 16 accounting standard. Brought in a year ago, it has driven up some firms’ leverage ratios by forcing them to report leases on their balance sheets, even though their businesses have not changed. But it would be a bad idea to act as if the rules had never changed.

  • ASML heads out for 10 year euros

    ASML heads out for 10 year euros

    ASML Holding, the Dutch lithography systems company, visited the euro bond market on Monday, as the bid for corporate credit remains strong, heading towards a March that is expected to be very busy.

  • Sub notes outperform as Welsh Water taps sterling

    Sub notes outperform as Welsh Water taps sterling

    Dwr Cymru Welsh Water, the UK utility, opened books for a senior and subordinated sterling bond issue on Monday, as the mandates from last week start to trickle through to investors' screens.

  • PFZW plans debt-funded swoop on DP World

    PFZW plans debt-funded swoop on DP World

    A Dubai World subsidiary has agreed to buy port operator DP World for $13.9bn. The lending desks at Citigroup and Deutsche Bank will be big winners from the debt-fuelled transaction.

Corporate Bonds News Archive

People & Markets

Loans

All Corporate Bonds

Rank Lead Manager Amount $bn No of issues Share %
1 30.56 156 8.06%
2 23.91 129 6.30%
3 23.39 121 6.17%
4 21.22 100 5.60%
5 17.52 81 4.62%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $bn No of issues Share %
1 4.74 19 6.82%
2 4.51 23 6.48%
3 3.88 17 5.58%
4 3.76 20 5.41%
5 3.75 16 5.40%