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Energy companies took advantage of record tight spreads as they joined a ‘perfect storm’ of dollar funding
Rates and credit under pressure as battle to be UK prime minister looks set to heat up
Amazon’s Swiss debut and Alphabet’s first yen deal jolted debt markets this week
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BT has appointed Andrew Binnie, a former member of Vodafone’s treasury team, as its new group treasury director. BT's previous treasury manager left in September and faces a murder charge.
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Adler Pelzer has finally priced a €75m mirror note, replicating the terms of its 4.125% 2024s, with BNP Paribas as sole global co-ordinator. JP Morgan, the original gloco, first announced the deal two weeks earlier, an extraordinarily long syndication process for a tiny bond from an established issuer — and an indication, alongside the eventual 92.50 price, that selling the issue was a challenge.
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A handful of Chinese investment grade names bombarded the dollar debt market on Tuesday, taking more than $2bn.
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Zhongyu Gas Holdings, a Hong-Kong listed natural gas distribution company, pulled its debut dollar bond on Tuesday evening after setting final guidance, leading some away from the trade to speculate that an aggressive pricing approach scuppered the deal. But its hiccup didn’t deter other issuers from hitting the market. Morgan Davis reports.
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Jinke Property Group Co raised $325m from its bond market return on Tuesday, with its deal receiving peak demand of about $1.45bn during bookbuilding.
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Belgian supermarket chain Louis Delhaize launched a Schuldschein on Tuesday afternoon, according to market sources, joining a band of retailers tapping the market this year.
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