Goldman Sachs
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The Hong Kong securities watchdog has banned former Goldman Sachs banker Tim Leissner from working in the city’s financial industry ever again for his involvement in the 1MDB multi-billion-dollar money laundering scheme. -
The Kingdom of Saudi Arabia printed its debut bond in euros on Tuesday. The deal was widely hailed a success, sold with a minimal new issue premium, final order books of over €14.5bn and trading up well in the secondary.
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Austrian agency Asfinag won a big order book on Tuesday, allowing it to price 3bp tighter than guidance, in a 10 year tenor the issuer hasn't accessed since 2009. Municipality Finance and the German federal state of Lower Saxony will add to the euro SSA supply on Wednesday with a 10 year green bond and a seven year benchmark, respectively.
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KfW and Bpifrance hit screens with taps of existing debt on Tuesday, with levels so tight that the sovereign, supranational and agency market’s best rated names are finding it trickier to get traction from investors.
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The Kingdom of Saudi Arabia has tightened guidance for its dual tranche debut in the euro market, offering a 10bp new issue premium for its eight year and a 5bp concession for its 20 year, according to a syndicate official away from the deal. Combined books are over €10bn, including €1.5bn of joint lead manager interest.
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A renewed appetite for risk was felt in Europe's corporate bond market this week, after US president Donald Trump appeared to have made overtures to the leaders of China and North Korea. Two issuers took advantage: Merck of Germany, with an acquisition financing, and ArcelorMittal, with a modest tap.
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Three public sector borrowers announced plans for new issues on Monday as issuers took advantage of a shift in sentiment following the G20 summit at the weekend.
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The UK Debt Management Office (UK DMO) has appointed four banks to lead the syndicated reopener of its 0.125% 2041 index-linked Gilt, which is planned to take place next week.
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Saudi Arabia hit screens on Monday to announce its first ever euro benchmark — a dual tranche with eight year and 20 year tenors.
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Two companies took advantage of a quiet market on Friday to issue euro bonds. International Airlines Group, owner of British Airways, Iberia, Aer Lingus and Vueling, issued €1bn of bonds that were more than three times covered pre-reconciliation, while Volkswagen Bank printed €500m solely led by Goldman Sachs.
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The prospect of a blockbuster bond deal from US pharmaceutical group AbbVie was welcomed by dollar bond investors this week, after corporate issuance tumbled to its lowest monthly tally this year.
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