Crédit Agricole
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Kookmin Bank opted for an unusual three year bond this week to diversify its funding avenues. The bond found strong interest from offshore accounts eager to get their hands on the new deal, allowing the lender to price inside fair value. -
French residential real estate company Foncia on Monday reopened the book for a €800m loan backing its acquisition by a Partners Group-led consortium, after tightening pricing beyond guidance.
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Shares in SSAB, the Nordic steel producer, have risen by 11% since the company announced the completion of its oversubscribed Skr5bn ($599m) rights issue on Friday.
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South Korea’s Kookmin Bank and Indian’s Glenmark Pharmaceuticals ventured out to the dollar debt market on Monday with their respective bonds.
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The list of lawsuits brought by pension funds against a group of banks and traders alleged to have manipulated the SSA market is now at least eight long, according to legal documents seen by GlobalCapital. It is likely that the lawsuits will be consolidated into a single action, according to one lawyer.
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European Central Bank president Mario Draghi has in effect told market participants to come back after summer if they want to see any further monetary stimulus — but belief that such stimulus is on the way helped a trio of euro deals this week.
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Spain drew nearly €30bn of orders for a new €6bn 10 year benchmark on Tuesday, as Cyprus tightened pricing by 20bp on a seven year deal.
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The City of Bristol Pension Fund has joined the Boston Retirement System in filing a lawsuit against a group of banks and traders for alleged manipulation of SSA debt in the secondary market.
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Investors turned up in large numbers to take advantage of Busan Bank’s offshore bank capital debut, with the robust demand set to encourage the rare South Korean issuer to become a more frequent name in the debt market.
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Spain is lining up its second 10 year euro benchmark of the year, as bankers responded to a question about market conditions with: “It’s game on.”
