Deutsche Bank
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Sacyr, the Spanish construction company, enjoyed a strong reception from equity-linked investors on Wednesday when it issued a new convertible bond that was increased to €175m off the back of unexpected demand from long-only funds. -
India’s JSW Steel raised $500m in an opportunistic transaction on Wednesday, marking the company’s first dollar bond in two years.
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After issuing a £500m seven year bond in March, Glencore repeated the performance, this time in the euro market. It issued a €500m 7.5 year bond that achieved a similar book size and price tightening. Telecom Italia also issued for the second time this year, after losing its Fitch investment grade rating on Friday.
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L-Bank and the Province of Manitoba kept the dollar SSA market busy on Tuesday, launching deals totalling $2.5bn.
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Three Chinese property companies battled in the primary market on Monday with competing supply. While high yield issuers have been able to sell bonds at ultra-tight prices of late, the weight of supply has started to force issuer’s to pay more to borrow.
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Chinese plastic surgery platform So-Young International is seeking $150m from a US IPO, according to a filing made with the US Securities and Exchange Commission on April 8.
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Deutsche Bank has become the first German bank to offer client clearing through CDSClear, the Paris-based clearing house of LCH.
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The dollar sovereign, supranational and agency primary market has kicked off the week with an L-Bank mandate, as bankers continue to see little more than sporadic European SSA issuance in the currency in the weeks ahead.
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KfW extended its syndicated euro curve to 2039 on Monday as it brought a new 20 year line that was priced flat to fair value.
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