Top Section/Ad
Top Section/Ad
Most recent
AT&T’s 19 year bond found buyers this week, but rate uncertainty and a flatter euro curve have dampened investor demand for duration
August forecast to be a strong month for corporate dollar supply
Stable backdrop, steady rates and strong demand give issuers reasons to move before the post-summer rush, bankers said
◆ Telco takes size in euros and duration in sterling ◆ Elevated premiums paid at the long end ◆ Sterling tranche AT&T's first since 2018
More articles/Ad
More articles/Ad
More articles
-
As the premium paid by Italian corporate issuers dwindled in the approach to summer, senior bankers suggested that the periphery designation was no longer appropriate. The country's official return to recession last week did little to change their minds. -
Uni-President China Holdings, a Taiwanese maker of instant noodles and snacks, is planning to revisit the Formosa bond market next week. A deal of up to Rmb1bn (US$162m) is being targeted for August 19, with three and five year tranches being considered, according to bankers.
-
Investment grade corporate bonds are overvalued, according to 72% of analysts and investors polled by CFA Society of the UK. However, bankers do not expect this to translate into wider spreads.
-
Shanghai Electric priced its maiden bond on Thursday, raising $500m with a five year offering. A high proportion of the book went to European investors who saw better value in the underlying credit than Asian investors who deemed it to be expensive for a regional name, according to bankers.
-
The first seven month of the year have been busier for corporate bonds than at any time since 2009 but with many firms having finished refinancing for the year and macro risks abounding, issuance might have peaked, said market participants. Citi, for instance, this week advised clients to expect a less busy second half of the year, revising its investment grade corporate full year euro issuance forecast down to €210bn from €234bn.
-
Bond financing for British Sky Broadcasting's £5bn acquisition of Sky Italia and Sky Deutschland could help boost the pipeline for the second half of the year, along with other M&A deals.
