Corporate Bonds

  • Continental rolls in with fixed rate note

    Continental rolls in with fixed rate note

    German tyre manufacturer Continental rolled into the market on Wednesday, one week after it priced its debut floater in the MTN market last week. The manufacturer had enjoyed several years away from the capital markets, before returning in September with a series of public deals. Elsewhere, political events in Turkey have left lira issuance surrounded in “uncertainty.”

    10 Oct 2019
  • Cadent hits cap in £400m tender

    Cadent hits cap in £400m tender

    Cadent Gas, the UK gas distribution company, concluded a tender offer, buying back £400m ($498.25m) of its 2021 bonds, with investors offering to sell back more than the maximum target.

    10 Oct 2019
  • Deutsche Bahn casts assorted comp net for hybrid

    Deutsche Bahn casts assorted comp net for hybrid

    Deutsche Bahn, the German railways company, wrapped up a roadshow for a dual tranche hybrid on Thursday, with investors looking at a trio of other issuers from a variety of industries for comparable notes.

    10 Oct 2019
  • Mizuho picks up four HY bankers

    Mizuho picks up four HY bankers

    A clutch of traders and sales bankers are joining Mizuho International within fixed income, focusing on high yield, investment grade, securitization and SSA.

    10 Oct 2019
Corporate Bonds News Archive

  • Triton accused of ‘unsavoury panoply of self-dealing’ in Galapagos

    Triton accused of ‘unsavoury panoply of self-dealing’ in Galapagos

    Triton Partners and secured bondholders enforced a share pledge over German heat exchanger company Galapagos, selling the company itself back to Triton, and leaving unsecured bondholders facing an empty shell. But the unsecured bondholders won’t go down without a fight, with Signal Capital Partners filing a lawsuit in New York seeking to tear up the sale.

    09 Oct 2019
  • Euro PP Charter adds ESG questionnaire

    Euro PP Charter adds ESG questionnaire

    Five years after its creation, the Euro PP Charter, an industry guidance document for the Euro private placement market, has been updated to reflect progress in, among other things, environmental, social and governance procedures.

    09 Oct 2019
  • Transition bonds could ‘broaden’ green market

    Transition bonds could ‘broaden’ green market

    A recent innovation in the green bond market — the transition bond — could help expand the issuer base, according to Credit Suisse’s head of environmental, social and governance strategy. But an investor said the standard of green bonds needed to be maintained.

    09 Oct 2019
  • Italy's Nexi switches to unsecured capital structure with €825m deal

    Italy's Nexi switches to unsecured capital structure with €825m deal

    Nexi, the Italian payments company, is marketing a dual-tranche refinancing bond, its first issue since it floated on the Milan Stock Exchange in April. With Advent, Bain Capital and Clessidra now mid-way through realising their investments, the company is changing its approach to the debt markets, switching to unsecured bonds and giving up callability.

    09 Oct 2019

  • Investors look for cracks in thumping corporate market

    The search for yield is shovelling more fuel on to the fire of an already blazing corporate bond market. Investors are keeping a close watch on Enel’s euro sustainability-linked bond issue, which is being marketed via investor calls on Wednesday, as a gauge of the market's health.

    09 Oct 2019
  • Updated: Bharti Airtel tackles debt load with $750m hybrid deal

    Updated: Bharti Airtel tackles debt load with $750m hybrid deal

    Indian telecommunications company Bharti Airtel’s efforts this year to deleverage were capped with the issuance of a subordinated perpetual $750m bond on Tuesday. The deal, alongside further stake sales planned for the rest of 2019, puts the company on track for a more stable debt profile. Morgan Davis reports.

    09 Oct 2019
  • ‘Net short’ clause might fail, but win anyway

    ‘Net short’ clause might fail, but win anyway

    Clauses to stop investors who are ‘net short’ a particular credit influencing any restructuring or default are becoming more common, with buyout debt for Bain Capital’s Kantar spinout and Blackstone’s Merlin take-private including the new terms. These may not be watertight, but that doesn’t matter — the point is to make it awkward for investors taking this approach.

    08 Oct 2019
Corporate Bonds News Archive

All Corporate Bonds

Rank Lead Manager Amount $b No of issues Share %
1 JPMorgan 118.76 611 5.93%
2 Citi 107.59 564 5.37%
3 Bank of America Merrill Lynch 105.31 537 5.26%
4 Barclays 90.21 402 4.50%
5 Goldman Sachs 80.66 396 4.03%
View full table
For detailed analysis: Dealogic
Last updated Today

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $b No of issues Share %
1 BNP Paribas 24.05 136 6.05%
2 JPMorgan 21.25 99 5.34%
3 Barclays 21.08 88 5.30%
4 Citi 20.60 101 5.18%
5 Bank of America Merrill Lynch 19.50 76 4.91%
View full table
For detailed analysis: Dealogic
Last updated Today