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Thames's troubles are contained for now, but risk of contagion remains
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
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Alister Moss, who left the banking industry three years ago, is set to make a comeback by joining Nomura's DCM syndicate team.
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Microsoft led a stampede by high grade borrowers to the dollar bond market this week as the latest Fed meeting pointed to the chance that it may raise rates in December.
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Western Power Distribution, the UK electricity distribution network operator, kept the sterling corporate bond market’s run of form going on Wednesday with a £500m eight year issue.
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Autoroutes Paris-Rhin-Rhône, the French motorways group, won a €4.9bn order book for a €500m eight year no-grow bond issue on Thursday, as investors returned in force to the primary market.
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Beijing Automotive Group (BAIC) has priced the second euro-denominated bond by a Chinese auto company, following a recent issue from one of its peers. Seven firms in total were hired as joint global co-ordinators for the €500m ($552m) deal after the issuer added five more banks to the syndicate to reward them for placing anchor orders.
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Primary bond activity in Asia picked up again on Thursday following the end of the meeting of the Federal Open Market Committee (FOMC), with a pair of Chinese issuers launching separate deals in dollars and euros.