Goldman Sachs
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The public sector dollar market on Wednesday showed that it had more than enough depth to cope with a pair of issuers bringing deals in the same maturity with just a basis point of difference in initial price thoughts, as both trades came in size and at tightened pricing. Another agency is set to dip into the demand on Thursday. -
Two SSA borrowers will go head to head in the dollar market on Wednesday, bringing five year benchmarks with only 1bp difference in initial price thoughts.
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Leveraged finance markets in Europe are looking up, and bankers expect they may even see some deals priced before long.
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Corporate mergers and acquisitions are the keys to loan market growth but the pipeline for the year ahead in emerging markets is far from promising, said loans bankers and analysts this week.
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Chinese state-owned Shenwan Hongyuan Group and Hong Kong-based restaurant owner Tai Hing Group are preparing their IPOs for this year.
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Profit Reach International, an investment vehicle owned by Chinese billionaire businessman Shen Guojun, has returned to the loan market for a $550m refinancing.
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Guangzhou R&F Properties has priced its second dollar bond of the year, capturing investors ahead of what is expected to be another busy week for Asia’s primary debt market.
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Country Garden Holdings (CoGard) raised $1bn from a two-part deal, hitting its size goal and finding the money it needs to refinance some of its maturing debt.
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Larry Fink, chief executive of BlackRock, became one of the most namechecked people in the responsible investing movement in 2018 when he affirmed that “Companies must benefit all of their stakeholders, including shareholders, employees, customers and the communities in which they operate.”
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The new-look Fox Corp made its dollar bond debut this week as the technical backdrop in the investment grade continued to improve with tightening spreads and thinner new issue concessions.
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The Province of Ontario will this Friday be the fourth SSA from Canada to visit a very strong dollar market this week, after CPPIB Capital printed on Monday, Alberta on Tuesday and the sovereign made a rare visit on Thursday. Dexia Crédit Local also printed in the currency on Thursday and SSA bankers are confident of more supply next week.
