Goldman Sachs
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A week that started with a panic about the potential for conflict between Iran and the US appeared to end with capital market issuance conditions so good as to be marked “10 out of 10”. As the loan market defied Middle East risk, borrowers and bond bankers are gearing up for a week ahead of huge issuance, while equity bankers are ruing missed opportunities. Sam Kerr, Mariam Meskin and Francesca Young report. -
The European Investment Bank and World Bank kept the strong momentum flowing in the euro public sector bond market on Thursday, hitting the sweet spot with 10 and seven year benchmarks, respectively.
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Calisen Group, the KKR-backed manufacturer of smart energy appliances, is preparing to raise £300m via an IPO on the London Stock Exchange, having announced its intention to float on Thursday.
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The State of Israel printed a $3bn dual tranche dollar bond on Thursday from a combined book of $20bn, helping to buoy confidence in the CEEMEA market as US-Iran tensions faded. The bond was Israel’s largest ever deal and its tightest price in terms of spread.
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Indian telecommunications giant Bharti Airtel made a splash in the equities market this week, bagging $2bn from a qualified institutional placement (QIP) and $1bn from a convertible bond, the first equity-linked issue in the country in more than two years. Both the deals received a big thumbs-up from investors, reports Jonathan Breen.
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Barclays has appointed Christian de Haaij, formerly of Goldman Sachs, for its European banking business.
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The State of Israel released initial price guidance on Wednesday for its dual tranche dollar 10 year and 30 year bonds as market participants hailed Tuesday’s Iranian strikes on Iraq airbases hosting US troops — and US President Donald Trump’s response — as a de-escalation of tensions between the two nations.
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A Dkr6.4bn (€856m) block of shares in Danish renewable energy firm Ørsted reopened the EMEA ECM market on Tuesday evening and attracted huge investor demand for the stock — including from ESG investors.
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Seven Chinese real estate issuers followed five of their peers to the offshore debt market on Tuesday, marking the busiest start to the year for the Asian bond market.
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The Republic of Indonesia made an opportunistic outing this week, tapping both the dollar and the euro bond markets for about $3bn. The sovereign started the year with a different approach to its annual funding, in a bid to take advantage of strong liquidity in both the currencies, writes Morgan Davis.
