HSBC
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Three new issues from the CEEMEA market this week marked the end of the heyday of easy money for emerging market bonds, as EM bond fund outflows were on track to hit their highest level since those prompted by the election of US president Donald Trump in 2016. Francesca Young reports. -
ANZ raised €750m this week from its first bond aligned with the UN sustainable development goals (SDGs), marking only the second such deal globally.
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French car parts maker Novares has pulled its €260m IPO on Euronext Paris as global equity market volatility meant that the deal could not be achieved at a level which was in "the best interests" of the company.
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Bookrunners will start marketing the financing for KKR’s buyout of Unilever’s spread business as soon as next week, with the European high yield bond and the leveraged loan market both braced for supply.
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Galliford Try, the UK construction company, has announced a £150m capital increase to help cover costs related to the collapse of Carillion in January.
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The Autonomous Community of Madrid on Tuesday printed its largest ever sustainable bond — and its biggest bond of any kind in three years — with a trade that was double the size of its SRI debut last year. Bankers away from the trade hailed the “excellent” result, with one saying it was “probably as good a result as the issuer could have hoped for”.
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The two Turkish IPOs priced this year are trading roughly in-line with their listing prices, despite recent outflows from emerging market ECM. But it is too early to judge whether this represents a positive outlook for Turkish ECM this year, according to sources.
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The Arab Republic of Egypt is providing the first big test of the resilience of emerging market debt since last week's volatility with a triple tranche dollar bond. Bankers eyeing the trade say the book size, and amount of price revision, will be a real indicator of investor appetite for riskier EM debt now the shine has come off the market.
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The Autonomous Community of Madrid is prepping its second ever sustainable benchmark, after mandating banks on Monday.
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Turkish food giant Yıldız Holding has restructured the equivalent of $1bn in short term loans into one long term syndicated loan, as part of its efforts to facilitate its growth plans for this year.
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There has been no book update or price guidance yet on the €260m IPO of Novares, the French plastic car parts maker, according to a source close to the deal. The books are due to close this week.
