Deutsche Bank
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Public Storage wrapped up a quickfire acquisition financing in the US bond market this week, after supply slowed to a trickle as huge swathes of corporate America entered earnings blackouts. -
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Austria took centre stage in the euro sovereign bond market this week with the sale of its first ever four year benchmark alongside a new 50 year deal to complete its curve.
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The relentless flow of special purpose acquisition companies coming to the market is causing unease among investors about market saturation, with $140bn raised so far this year. Only the highest quality sponsors are likely to succeed in bringing new Spacs to IPO from now on, writes Aidan Gregory.
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The State of North Rhine-Westphalia and the International Finance Facility for Immunisation attracted impressive demand in the dollar market on Wednesday, allowing them to print big deals in the currency.
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Air France-KLM has set the offer price for its €1bn capital increase following an accelerated bookbuild on Monday night.
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Indonesia's Bank Mandiri has sold its first sustainability bond, raising $300m after an order book that was more than 10 times subscribed at its peak.
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Europe’s primary convertible bond market has reopened after the Easter break with two new deals on Friday from issuers with very different sector profiles.
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Zhenro Properties Group sold a short dated bond worth $220m on Thursday, adding further momentum to Asia’s growing green market.
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UBS has hired Bryan Kuo as a director on its debt capital markets syndicate team.
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Debt markets are awaiting a wave of mergers and acquisition financings in the second quarter and later this year, as the boom in deals sparked by confidence that the economy is recovering from the coronavirus gathers steam. But the eagerness to lend will create tension between loan and bond markets, and deals are likely to get more challenging later in the year, write Mike Turner and Jon Hay.
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