Deutsche Bank
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A $301m-equivalent five year refinancing for Trans Media Corpora has been launched into general syndication by five mandated lead arrangers and bookrunners. -
Guarantor: Kingdom of Belgium (51.41%), Republic of France (45.59%) and Grand Duchy of Luxembourg (3.00%)
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The euro market has, after a wobble in the first week, adjusted admirably to a new price level and got off to a spectacular start, providing record book sizes and smooth executions across the curve.
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World Bank issued a rare benchmark Canadian dollar bond this week, raising C$1bn ($802m) with a sustainable development deal in a strong week for niche currency sales from SSA borrowers that also included several Australian and New Zealand dollar deals.
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Records were tumbling this week as countries, companies and credit institutions were met with a wall of cash for new bond offerings across the globe — prompting speculation that primary capital markets may well be at the very height of their capacity. Tyler Davies reports.
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Chinese conglomerate Tencent brought cheer to the dollar bond market on Thursday as it tapped pent-up demand with a four-part benchmark trade that amassed a $40bn order book.
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Macedonia on Thursday set final terms for a €500m seven year bond at 3%, the tight end of price guidance at 3.125% area, with books over €3.5bn.
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Public sector issuers rounded out a superlative week for dollars with sparkling results across the curve on Thursday. Bankers are confident that issuers wishing to print in the coming weeks should find that investor demand outweighs any of the political concerns that brought volatility to rates over the last few days.
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Investors piled in excess of $12.5bn orders into a dual tranche dollar trade for Israel on Wednesday, the largest level of oversubscription the sovereign has ever experienced.
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Macedonia has set final terms for its first international bond in over a year, with books for the deal hitting over €3.5bn
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A slew of Chinese issuers are wooing dollar bond investors on Thursday, as Philippine company Petron Corp also competes for buy-side attention.
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The Inter-American Development Bank provided further proof on Wednesday that there is deep demand at the five year part of the dollar curve — but another supranational is stepping up to test the long end of the currency for the first time this year.
