Deutsche Bank
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Standard & Poor’s sent Deutsche Bank’s subordinated debt tumbling in secondary this week by slapping the paper with a sub-investment grade rating.
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MasterCard, the US credit card payments company, raised €1.65bn on Monday with its first euro bonds — and only its third bond issue ever.
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SKF, the Swedish ball bearing maker, won a €2.2bn order book on Tuesday for a €500m no-grow bond, issued to partly fund a tender offer for older notes.
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Intel, the US technology company, raised A$800m ($578.44m) in its debut Kangaroo deal on Tuesday afternoon, drawing strong demand from Asian investors. -
On Wednesday, the same day as Total's debut convertible, came another inaugural deal, from Brenntag, the German chemicals distributor, which has a €7.7bn market cap — dwarfed by Total’s €113bn.
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Coopération Pharmaceutique Française, the French pharmaceuticals distributor known as Cooper, has bank meetings scheduled on Wednesday for more than €350m of new debt for its leveraged buyout by Charterhouse.
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The rampant demand in the convertible bond market, which has produced a run of deals at very attractive terms for issuers, brought two more borrowers into the market today (November 25) with debut deals, Total and Brenntag. But the deals’ execution suggested it might be time for a breather.
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Scandic Hotels, the Nordic hotel operator that started taking orders for its IPO on November 17, has released a covered message to investors, a lead banker said on Wednesday.
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OTE, the Hellenic Telecommunications Organisation, returned to the bond market on Tuesday with a €350m four year at a yield of just 4.625%, despite high yield bankers saying the mood in the market was still unstable.
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Intel, the American technology company, raised $A800m in its debut Kangaroo deal on Tuesday afternoon, drawing strong demand from Asian investors.
