Credit Suisse
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New Zealand lender Kiwibank sold its first senior unsecured Swiss franc bond on Thursday. The issuer's solid credit rating and lack of outstanding debt allowed a solid success in spite of volatility earlier in the week. -
The Islamic Republic of Pakistan has signed its $150m 18 month loan, while still keeping syndication open for more banks to join the transaction.
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Technology company Lenovo Group is seeking roughly $1bn to fund its acquisition of shares in Motorola Mobility, less than three months after it sealed a separate loan of $1.2bn.
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Syndicate bankers are primed for a busy period in dollars next week following the smooth execution of four benchmarks in the currency this week despite uncertainty and volatility caused by the situation in Ukraine.
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Piraeus Bank is set to become the first Greek financial institution to print a bond since the country’s bail-out in 2010, and the stage is set for a big success after fellow periphery Banco Popolare built one of the biggest books for a senior unsecured deal in recent memory this week.
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Obrascón Huarte Lain, the Spanish construction and concessions group, pounced on a super-tight high yield market on Wednesday to issue a €300m bond, and found demand so strong that it was able to increase it to €400m. The final book was around €3.2bn.
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Mexican financial Crédito Real attracted a bumper book for only the second LatAm dollar issue since January 31 on Thursday afternoon though more supply is needed to quench the market’s thirst for paper, according to traders.
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Relations between the US and Russia reached their worst pitch of tension for 25 years this week – yet for the corporate bond market, blue sky stretched to the horizon.
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Praxair, the US industrial gases group, launched its first bond outside dollars on Tuesday, with a €600m six-year issue that was priced tightly, though still at a concession to Linde and Air Liquide, its main European peers.
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Credit Suisse drew in €3.3bn of demand for its €1.75bn five year deal, the biggest of 2014 as generous pricing and name recognition spurred demand. By contrast, La Caisse Centrale Desjardins du Quebec pulled in a relatively anaemic book €1.2bn for its inaugural legislative €1bn five year deal.
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Malaysia Airports Holdings raised MR980m ($299m) via an accelerated bookbuild on February 3 as it looks to put the finishing touch to its acquisition of a stake in Turkey’s Istanbul Sabiha Gokcen International Airport.
