Goldman Sachs
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Ireland has sold its first negative yielding bond, raising €4bn with a five year. The deal pulled in €10.1bn of orders, despite some trepidation over the developing situation between Catalonia and Spain. -
Czech rental housing company Residomo is marketing a €680m seven year non-call three year senior secured bond that is expected to garner interest from global high yield accounts and emerging market investors.
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The Wild West days are not over in the cryptocurrency market, but the shoots of a more civilised and reliable market are beginning to poke through.
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Latin America DCM bankers saw Mexico’s latest bond issue priced with a negative new issue premium on Monday, though at one stage it looked like the deal could have come even further inside fair value as the $1.88bn sale was launched at the middle of the guidance range.
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Shares in Hapag-Lloyd, the German container shipping line, are holding up well as the subscription period for its €352m rights issue begins.
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Ireland returned to screens on Monday, mandating six banks for the sovereign’s first syndication since January. The proceeds from the issue will go to repaying the country’s remaining loans from the International Monetary Fund.
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Iron Mountain, Bormioli and Constellium revved up the engines of the European high yield market with new deals announced on Tuesday that pushed overall issuance so far this year closer to 2014’s all-time €84bn high.
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The IPO of Pirelli, the Italian tyre company, has been priced at €6.50, the bottom of the revised range, valuing the business at €6.5bn.
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Saudi Arabia does not come to market often, but when it does, it does so in size — as this week’s $12.5bn sale proved. In the last 12 months, the Gulf state has raised more in dollar or euro syndications than any other sovereign. The issuer has shown remarkable commitment to weaning its economy off petrodollars as it enlists capital markets to help it plug a $53bn deficit, writes Virginia Furness.
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Goldman Sachs couldn’t resist the lure of tight spreads as it hit the dollar market in the run-up to announcing third quarter earnings.
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Turkey’s state-owned Ziraat Bank on Monday morning took orders of $1.25bn to print its second senior trade of the year in what bankers said was a notably softer market.
