Credit Suisse
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Far East Consortium International (FEC) is returning to the dollar bond market, dishing out a new 5.5 year transaction on Monday. -
En+ Group, the Russian power and metals company controlled by Oleg Deripaska, began trading in London and Moscow on Friday after the book for its $1.5bn IPO came together at “the last minute,” according to a banker on the deal.
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On Thursday, tobacco company Philip Morris sold a $2bn triple-tranche bond deal. On Friday, it was in Europe selling a €1bn dual-tranche transaction, taking advantage of the demand for longer tenors.
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Keppel-KBS US Real Estate Investment Trust raised $448m in Singapore’s second IPO of a pure play US Reit, after demand from private banking accounts helped it get over the finish line.
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Credit Suisse said in its third quarter numbers that its balance sheet had been swollen by another Sfr5.2bn of operational risk assets related to RMBS settlements it reached earlier this year and last year — demonstrating the absurdity of operational risk rules that in effect charge the bank’s shareholders twice for the same offence.
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Dollar corporate bond supply kicked off November on a quiet note after the the Federal Reserve’s two day meeting kept borrowers on the sidelines following a frantic start to the week when spreads continued to tighten and cash poured into the high-grade market.
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Hong Kong’s overnight interbank lending rate spiked dramatically this week, after a horde of retail investors borrowed on margin to place bets on two IPOs.
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A trio of Chinese firms begun pursuing IPOs in the US this week that could raise more than $1bn between them.
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Latin American power generation and distribution holding company Inkia Energy is likely to sell a new 10 year non-call five bond on Thursday after wrapping up investor meetings on Wednesday.
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Argentine lender Banco Hipotecario returned to the international markets with a peso-linked deal on Wednesday, becoming the fourth Latin American issuer to sell global local currency bonds in two weeks.
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NGA UK, the provider of human resources software, launched a €300m loan on Wednesday, which it will be hoping appeals to CLO managers that have been eager for new money deals.
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The IPO of EN+ Group, the Russian power and metals company controlled by Oleg Deripaska, has got covered at its base size, on the penultimate day of the bookbuild.
