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◆ Energy pair bring three tranches ◆ Sub-100bp senior/hybrid spreads secured ◆ Single digit concessions offered
◆ Deal attracts highest bid-to-cover ratio of the year so far ◆ Extensive marketing helps fuel demand ◆ Pinpointing fair value tricky
◆ First Swissie corporate bond since Alphabet's finds size ◆ Dual tranche trade lands tight ◆ Domestic corporate undersupply helps demand
◆ Issuers opt for extra guidance as market softens ◆ Enexis takes size at six years ◆ DSM-Firmenich lands tight
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Diageo, the UK distiller and brewer, has agreed to buy Aviation American Gin from Ryan Reynolds, the Deadpool actor. Despite the deal size being small by Diageo's standards and the company not taking on debt for the purchase, the buyer has had a warning shot across its bows over the impact on its credit quality.
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Bombardier has closed a $1bn three year loan facility with a number of direct lending funds. Over the past few months, direct lenders in Europe and the United States have started muscling into the debt profiles of larger corporates. -
The sharp rise in corporate fallen angels this year has not led to sharp yield rises for the effected companies, leaving people on the front lines of European corporate capital markets scratching their heads to try and work out why.
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Icelandair, Iceland’s flag carrier airline, has been approved for a state-backed loan guarantee that is contingent on it raising $147m-equivalent through a “vital” share sale, as a major airline industry body calls for more government assistance to the sector.
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Yangzhou Urban Construction State-Owned Assets Holding (Group) Co continued the tight pricing trend for recent bonds from Chinese local government financing vehicles with a 68bp tightening.
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Hong Kong property company Hysan Development Co used a fixed-for-life structure for its $300m perpetual bond on Tuesday, taking advantage of the low interest rate environment to lock in pricing.
