Goldman Sachs
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After making its highly anticipated debut in the international capital markets with a dollar benchmark this week, New Development Bank is looking to build a diversified funding programme, with euro and sterling-denominated bonds on the agenda for 2020. The new supranational has also set itself a target to become a triple-A rated issuer. -
Five banks and insurers from across Europe issued senior debt this week, including two in green bond format, as they tried to find opportunities in a choppy market. Athene Global Funding, Banco de Sabadell, Virgin Money, Santander and Hypo Noe all priced deals.
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BP, the UK oil company, completed the biggest ever hybrid bond sale this week with a $12bn-equivalent debut issuance across multiple currencies, leading to rising expectations that other oil majors without hybrid debt will be entering the market too.
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Chinese real estate developer Zhongliang Holdings Group Co took $250m from a sub-one year bond on Wednesday, prioritising size over price for the deal.
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It was another scorching day in Europe’s high grade market on Wednesday following further central bank-created exuberance, as investors piled more than €55bn of orders into deals from across the spectrum of ratings and sectors.
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Sovereign, supranational and agency bond issuers are mobilising their resources to support the fight against Covid-19. The below table details the bonds they have issued, specifically in response to the coronavirus pandemic.
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Fast food restaurant franchiser Yum China Holdings is in the process of mandating banks for a secondary listing in Hong Kong, according to sources familiar with the matter.
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BP, the UK oil major, has announced its debut hybrid trade with a multi-tranche triple currency deal mandate. The borrower was looking to steady its credit ratings a day after warning that it was going to write-off up to $17.5bn of assets.
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The New Development Bank was not able to claim a seat among the top supranational borrowers as it brought its debut dollar benchmark on Tuesday, pricing at a spread of over 30bp to the premium triple-A rated names, according to on-looking SSA bankers.
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Hygeia Healthcare Holdings has kicked off the roadshow for its up to HK$2.22bn ($286.4m) IPO, joining Hong Kong’s increasingly hot listing market.
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The New Development Bank and Kommuninvest began marketing new dollar benchmarks in the short end of the curve on Monday, with the former set to issue its long-awaited debut deal in the currency to support its member countries from the coronavirus pandemic.
