Goldman Sachs
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The European Financial Stability Facility is set to enjoy enviable conditions when it comes to the euro market next week — during which the Greek sovereign could also make an appearance. Demand at the long end has been particularly strong due to a yield spike last week, which KfW and SCNF Réseau have since taken advantage of. -
The UK Debt Management Office broke yet another record on Tuesday, building its largest ever book in cash terms for an inflation-linked syndication. The demand was such that the bond then tightened in secondary to move past the fair value level at the book open, said one of the leads.
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Midstream energy company Oneok made a convincing return to the dollar market on Thursday with its first investment grade deal in two years.
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On Wednesday Aroundtown became the seventh property company in the last month to sell bonds in Europe. It followed the trend of its peers by extending the maturity profile of its debt with a €500m 8.5 year transaction.
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The Republic of Indonesia sold one of its classic blockbuster deals this week, raising more than $3bn from a three-tranche bond in euros and dollars. The transaction was a mix of self-promotion and opportunism — and further cements the country’s reputation as one of the savviest issuers in the region, writes Morgan Davis.
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Chinese biopharmaceutical firm 3SBio has taken a step towards boosting its presence in Europe by printing its debut convertible bond, raising €300m in a rare appearance in the currency from an Asian issuer.
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Korea Gas Corp opened books for a dual tranche dollar deal on Thursday, more than a month after wrapping up a roadshow in Europe. Industrial Bank of Korea and Doosan Infracore, meanwhile, have mandated banks for new dollar transactions.
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The European leveraged finance markets are licking their lips in anticipation of a new €2.5bn deal backing Bain and Cinven’s takeover of Stada Arzneimittel, the German generic drug manufacturer.
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The Republic of Indonesia sealed a $3bn-plus triple tranche deal on Tuesday, in a transaction that proved both opportunistic and strategic for the southeast Asian country.
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On Wednesday Aroundtown became the seventh property company in the last month to sell bonds in Europe. It followed the trend of its peers by extending the maturity profile of its debt with a €500m 8.5 year transaction.
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The UK Debt Management Office broke yet another record on Tuesday, building its largest ever book in cash terms for an inflation linked syndication. The demand was such that the bond then tightened in secondary to move past the fair value level at the book open, said one of the leads.
