Corporate Bonds - Article Archive



  • EDP follows up euro blowout with first Swissie

    Energias de Portugal, fresh from its Eu750m success last week, launched a debut Swiss franc deal on Monday as an undersupply of corporate paper in the currency tempted investors to buy the bond.

  • Zhong An postpones synthetic renminbi issue

    Zhong An Real Estate postponed its synthetic renminbi deal on Monday, driven by fears over recent supply and recent government measures to cool China’s property market. The company will talk to key investors after Chinese New Year and then decide whether it wants to make a second attempt at a deal.

  • El Salvador and EPM bolster LatAm market

    Two Latin American companies tapped global markets this week, including Argentine credit card company Tarjeta Naranja, which sold a $200m high yield note on Tuesday.

  • Dubai property firm Emaar sells rare $500m sukuk

    Dubai-based property developer Emaar Properties tapped the sukuk market on Thursday for $500m, revealing surprisingly robust demand for companies from this sector and region. HSBC, Royal Bank of Scotland and Standard Chartered Bank arranged the deal.

  • InBev slakes investor thirst for corporates

    Anheuser-Busch InBev exploited limited supply in the US investment grade market this week with a $1.65bn offering that was more than six times subscribed. The company issued its five and 10 year bonds at a discount to outstanding debt and added a three year FRN to meet an investor request.

  • BNPP hires Hartman for HY team

    BNP Paribas has hired Stan Hartman as a high yield syndicate manager in its debt capital markets syndicate team. His recruitment is part of a larger trend as banks build up their teams in anticipation of a growth of junk bond issuance from European firms.

  • Core European corporates slow to issue

    Only Eu1.5bn of supply came from core European corporate borrowers this week as issuance continued to lag that from entities in peripheral eurozone states.

  • Vimpelcom rings up $1.5bn Eurobond with ease

    Russian telecommunications company Vimpelcom priced its first Eurobond since 2008 on Wednesday. Demand for the dual tranche $1.5bn deal was so great that it pulled the company’s outstanding curve 20bp tighter.

  • Nestlé doubles issue size to Nkr1bn after strong demand

    Nestlé Holding’s rarity value, the market’s clamour for corporate paper and a lack of supply in the currency led to the borrower doubling the size of a Norwegian krone transaction it priced on Thursday. The deal was Nestlé’s first in the currency since last June.

  • Triple deal blowout drives high yield boom

    The strength of Europe’s high yield market was showcased this week when Swissport, Fresenius Medical Care and Priory Group priced blowout deals. And the trend is unlikely to relent in the near future, said bankers.

  • Fresenius breaks record as HY demand surges

    Germany’s Fresenius Medical Care sold a Eu775m equivalent high yield bond on Wednesday. The deal’s euro tranche was issued with one of the lowest coupons ever seen in Europe’s junk bond market, as strong demand among investors shows no sign of waning.

  • Vimpelcom rings up $1.5bn with ease

    Russian telecommunications company Vimpelcom priced its first Eurobond since 2008 on Wednesday. Demand for the dual tranche $1.5bn deal was so great that it pulled the company’s outstanding curve 20bp tighter.

  • CNOOC sells $2bn bond, sets early record for 2011

    China National Offshore Oil Corp (CNOOC) issued Asia’s biggest international bond of 2011 last week, raising $2bn after a huge response from investors to a rare double-A Chinese credit.

  • Water company PAAB soaks up Malaysian bond demand

    Malaysian state-owned water company Pengurusan Aset Air Bhd raised M$2.7bn ($884.2m) this week, returning to its domestic market to sell a three-tranche deal that attracted orders of around $3.4bn.

  • San Miguel Energy turns to offshore market for $300m

    San Miguel Energy Corp raised $300m in the international bond market at the end of last week, overcoming a lack of good comparables to sell a bond that fell in early secondary trading but started to bounce back near the end of the week.

  • Renminbi bonds keep up pace with IFC and PCD Stores issues

    The offshore renminbi market continued its rapid expansion this week, as borrowers from opposite ends of the credit spectrum — supranational lender International Finance Corp and mainland department store operator PCD Stores — sold their own deals and more issuers lined up to tap the market.

  • SEB bolsters HY team

    SEB has hired Carlo Lugani to focus on high yield and convertible bond origination.

  • PCD scraps five year bond, investors stick to short-end

    Chinese department store operator PCD Stores became the latest issuer in the Hong Kong renminbi market this week, when it raised Rmb750m ($113.9m) from a three year deal. The company had also considered selling a five year tranche, but scrapped the idea after investors flocked to the shorter-dated issue.

  • ChelPipe latest to join Russia IPO list

    Steel pipe maker Chelyabinsk Tube-Rolling Plant, also known as ChelPipe, has become the third Russian company to launch a fundraising this week with a $472.5m-$621m offering via JP Morgan.

  • BNPP hires Hartman as banks bolster HY teams

    BNP Paribas has hired Stan Hartman as a high yield syndicate manager as banks continue to build their teams in anticipation of a growth of junk bond issuance from European companies.

  • Europe’s companies wake up as EDP prints Eu750m

    Europe’s investment grade bond market burst into life on Tuesday as four borrowers launched benchmark deals. Among them was Energias de Portugal, which was set to price a heavily oversubscribed Eu750m five year note in the afternoon.

  • Experian provides £400m of rare sterling supply

    The UK’s Experian Finance, a provider of data and marketing services, sold a £400m 4.75% short eight year bond on Friday, only the third sterling investment grade corporate deal to be priced this year.