Europe
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Agricultural Bank of China (ABC) is planning a roadshow in September for the world’s first offshore renminbi green bond that will be part of a multi-tranche deal. The trade scheduled to price ahead of president Xi’s visit to London in October and is one of a number of upcoming Chinese bonds aimed at the UK. -
Goldman Sachs has promoted Jonathan Penkin to the new roles of head of growth markets ECM and chairman of Asia ex-Japan ECM, according to an internal memo seen by GlobalCapital Asia.
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An eagerness among buyside credit traders to sell credit volatility at the start of the week gave way to hedge buying by Wednesday, as iTraxx index spreads hit their recent wides.
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Stagecoach Group, the UK bus and train operator, filled the book for a £400m bond issue more than twice over on Monday, breathing life into a previously empty sterling market.
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Scout24 on Monday launched the bookbuilding phase of a Frankfurt initial public offering that could value the car and home sales website company at between €2.9bn and €3.5bn.
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Covestro, the polymers division of Bayer, began bookbuilding on Monday for its early October initial public offering, which is intended to raise €2.5bn, entirely from the issue of new shares.
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Volkswagen's bonds widened as much as 35bp today (Monday September 21), after the company shocked markets by admitting it had deceived US regulators over pollution emissions from diesel vehicles.
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The second Greek general election of the year has returned a much more market friendly result than the first one, and SSA bankers are hopeful that a prevailing calm in the euro market could lead to some deals.
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Proximus, the new name for Belgian telecoms company Belgacom, issued a €500m no-grow bond on Monday and won high oversubscription.
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The Swedish bank has mandated leads for a five year benchmark that is expected to be launched on Tuesday. This will be its second deal in euros this year and its fourth overall.
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Interoute Communications, Europe’s largest operator of cloud services, began offering €590m of bonds on Monday to fund its recent takeover of peer Easynet from the UK’s MDNX Group.
