Goldman Sachs
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Tesco, the UK grocer, has refinanced its sterling facility with a £2.5bn sustainability-linked deal that uses risk-free rates as a benchmark, as companies try to get to grips with the end of Libor. -
Companies continued to find willing buyers in the US bond market this week, even as equity markets seesawed over the prospects of further economic stimulus.
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Argenta Spaarbank, Belfius Bank and Jyske Bank took differing approaches to sell €500m no-grow senior bonds this week — Argenta offered a substantial new issue premium, while the latter pair pushed their pricing close to fair value.
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Unédic returned for another social benchmark on Thursday, adding to the slew of successful French agency SRI-themed paper.
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A pair of infrequent issuers, Belfius Bank and Jyske Bank, tapped a strong market on Thursday with a pair of senior deals. The conducive environment is expected to wane as banks enter blackout periods, and prospective deals will have to vie with volatility around the US presidential election.
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Chinese peer-to-peer lender Lufax Holding filed IPO paperwork in the US on Wednesday for what is expected to be a jumbo listing.
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Chinese property company Agile Group Holdings raised $300m from its Wednesday bond sale, but found less investor support than excepted.
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Private equity firms Bain Capital, Advent International and Clessidra have completed a huge sell-down of stock in Nexi, days after the Italian payments company unveiled plans for a €4.6bn merger with Sia, a close rival.
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US investors shrugged off concerns over tensions between their country and China to support internet company Baidu’s $950m dual-tranche bond outing this week.
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Eni, the Italian oil and gas company, got blowout demand for its debut hybrid capital issue on Tuesday, as yield-hungry investors pumped about €14bn of orders into the dual tranche trade.
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Société du Grand Paris plans to steam ahead with funding as it announced a doubling of its green EMTN programme and a substantial increase to its 2020 funding programme to help prefund the financing for the next three years of the Grand Paris Express project.
