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Abbott Laboratories plundered $20bn as it led a trio of drug companies which printed jumbo bonds as a deluge of supply in the dollar market ensured a red-hot end to the month.
◆ French supermarket chain extends curve to 2035 ◆ Deal lands through fair value ◆ SLB volumes slide despite 'flexibility'
UKPN purchase seen as positive by rating agencies, leads to senior and hybrid upgrades
◆ Deal spans euros, sterling and dollars ◆ Wide range of US TMT comps used ◆ Slim premiums needed for euro tranches
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Adani Green Energy was out with a 20 year bond on Thursday, giving investors the option to buy a dollar deal from Asia in an otherwise quiet primary market.
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Northern Powergrid, a rare issuer in the UK market, issued a 40 year sterling bond on Wednesday that found a strong reception, in a week that has proved patchy for issuers in the currency.
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Before the European Central Bank has even begun its revived asset purchase programme, analysts are already predicting that it will have to increase it next year, leading to yet more demand for corporate bonds.
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Landesbank Baden-Württemberg has long held the crown as the top Schuldschein arranger, but even as the market internationalises the Stuttgart-based bank has retained its ability to cope with deal flow, as well as push the market beyond its usual borders.
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HSBC is reorganising its corporate finance coverage and sending the co-head of the business, Peter Enns, to Asia as part of a global revamp under Greg Guyett, the bank’s new global banking boss.
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Cadent, the UK gas distribution company, is buying back up to £400m of its September 2021 bond and issuing a new one.