Goldman Sachs
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SSA issuers were out in the dollar market with $7bn of new bonds on Wednesday, though the biggest of the deals highlighted how price sensitive investors were in a world where some yield curves have inverted. -
Europe's corporate bond market opened emphatically for business on Tuesday, as seven issuers banished all memories of the summer holiday. Despite there being plenty of choice for investors, demand was high across the board. Multiple deals were two to three times oversubscribed, while the largest, a €3.5bn four trancher from Siemens, the machinery maker, was nearly 4.5 times covered.
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The dollar SSA market has started the short week on the front foot, with a trio of trades hitting screens on Tuesday.
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HSBC France and Svenska Handelsbanken avoided issuing senior bonds at negative yields in a busy new issue market on Tuesday, but bankers said it was only a 'matter of time' before someone takes the plunge below 0% with an unsecured deal.
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ArcelorMittal, the steel company headquartered in Luxembourg, has amended and extended a $1bn revolving credit facility via its US business.
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Shanghai Henlius Biotech, which is being spun off by Shanghai Fosun Pharmaceutical (Group) Co, started gauging investor interest for its Hong Kong IPO on Monday, despite a choppy market.
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Megvii Technology, a Chinese artificial intelligence (AI) company best known for the facial recognition platform Face++, has set the ball rolling for its dual-class share listing in Hong Kong.
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Banks like Goldman Sachs have positioned corporate broking as part of a wider, integrated offering to clients — a strategy that appears to be the future of this traditional UK line of business, writes David Rothnie.
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A $170m loan supporting Blackstone’s acquisition of Essel Propack (EPL) has been launched into general syndication, attracting two lenders already.
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The dollar SSA market was ablaze on Tuesday, with five deals on screen offering small new issue premiums and gaining chunky demand across the maturity curve.
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KommuneKredit failed to set the market alight with the first euro syndicated public sector bond since mid-July, excluding deals from German Laender. The Danish agency only managed to sell €500m for the 11 year benchmark and was unable to tighten the spread during pricing.
