Goldman Sachs
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Goldman Sachs found the optimal window to return to the Swiss market this week, as local investors turn towards established names with a bit more yield on offer. -
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Greek lender Eurobank returned to the market this week to land €500m of senior paper for its minimum requirement for own funds and eligible liabilities (MREL) at a yield above 2%, proving the market is there for even for very risky credits.
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A Sfr1.1bn jumbo block trade in Barry Callebaut, the Swiss chocolate maker, by Jacobs Holding, has attracted strong demand from investors eager to add defensive exposures to their portfolios.
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The European Stability Mechanism raised €2bn on Monday to conclude its second quarter funding with the deal offering a very slight positive yield.
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Greece’s Eurobank is preparing this week to launch a callable senior preferred deal, which it will use towards its minimum requirement for own funds and eligible liabilities (MREL).
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Goldman Sachs made its second visit to the Maple market this year on Thursday. The Canadian dollar market is enjoying its busiest year in four years for offshore issuance.
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Chinese health insurance and healthcare crowdfunding platform Waterdrop has kicked off pre-deal investor education for its US listing, according to a source close to the IPO.
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Corporate bond issues came at a healthy clip in the US market this week, despite earnings blackouts, as investors showed a preference for highly rated paper.
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Bank of Cyprus and Nykredit, at opposite ends of the FIG ratings spectrum, issued tier two bonds over the last week and both found strong demand from investors for the extra spread the product offers over senior debt. But with bank capital ratios rising, there seems little appetite among other issuers to follow.
