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Proceeds earmarked to refinance upcoming maturity
◆ Strong demand for first sterling bond under Andy Burnham's government ◆ Deal navigates market vol ◆ Concession small, but investors attracted to spread
◆ French real estate group prints seven year bond ◆ Covivio skips guidance and tightens spread sharply ◆ Investor selectivity returns as orders fall
Bifurcation is emerging in how investors treat the hyperscalers
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Chinese local government financing vehicle (LGFV) Yunnan Provincial Energy Investment Group is making its return to the international bond market, marketing a dollar-denominated dual tranche offering on Tuesday.
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Early morning volatility had largely retraced by mid-morning in investment grade euro corporate bonds on Monday, as market participants, for once this year, got the political result they expected from Sunday’s Italian referendum.
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Asia ex-Japan debt capital markets had a quiet opening on Monday, with a sole Chinese local government financing vehicle (LGFV) out for dollar funding. On the same day, another two LGFVs announced mandates.
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Tewoo Group Co, also known as Tianjin Material & Equipment Group Corporation, is planning a return to the offshore bond market, having picked two firms to arrange roadshow next week.
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Corporate bond investors are not taking Sunday’s Italian constitutional referendum lightly, but their minds are much more heavily focused on the European Central Bank’s meeting four days later.
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Analog Devices was the stand-out issuer in the dollar market this week, wrapping up M&A-related financing as funding conditions remained positive in the run in to year end.