Goldman Sachs
-
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. -
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.
-
-
-
-
A pair of emerging market banks placed MTNs this week. In Australian dollars, Banco del Estado de Chile printed a 10 year note on Tuesday, while on Monday, Qatar National bank placed short end dollar paper.
-
Chinese social media platform Weibo Corp raised $800m from its inaugural dollar deal, with the bond tightening by 10bp in the secondary market on Thursday.
-
Motability Operations Group, the UK company that operates the UK government's scheme to provide cars for the disabled, printed a £1.438bn-equivalent euro and sterling three tranche bond on Wednesday, in a busy day that also brought a €1bn two part issue from OMV, the Austrian oil and gas company.
-
Medtronic, the Irish-registered US medical devices maker, returned to the euro bond market on Tuesday for a jumbo issue of €5bn, only three months after issuing a €7bn deal - a move that highlights the attractiveness of the euro market. Once again, Medtronic is using the money to buy back dollar bonds.
-
The Republic of Austria received huge investor demand for its five year euro benchmark on Wednesday, despite the bond being priced with a yield below the European Central Bank’s deposit rate. The sovereign also took advantage of the rally in eurozone government bond yields to tap its outstanding century bond for a further €1bn.
-
Travelodge is planning to dip into the sterling market to refinance all its bonds, issuing up to £440m in senior secured floating rate notes. It would take advantage of a window for UK issuance before the likely resumption of political worries in the autumn as the Brexit deadline approaches.
-
Investors poured into Agence Francaise de Developpement (AFD)’s 10 year euro benchmark on Tuesday, allowing the French agency to issue its largest ever trade in the currency.
