HSBC
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Barratt Developments, the UK home builder, has lengthened the tenor of a revolving credit facility by two years. -
Portugal found the best possible medicine to a rising fever in its bond yields by building a large order book on Wednesday for its first syndication of 2017. Attention now turns to Italy, which faces a crucial rating review by DBRS on Friday.
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Equity-linked issuance in Europe burst into life on Thursday with the sale of a €500m bond for Prysmian Cables & Systems and the first Japanese CB of any size since September. Then on Thursday evening Immofinanz launched another deal. The clutch of deals suggests the market is wide open for issuers.
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Auckland Council on Thursday pulled off a 7bp tightening for its first ever public deal in euros. The trade was joined in the market by paper from the City of Hamburg and Bpifrance Financement.
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As many as eight covered bonds were launched across three currencies this week, the vaguely discernible pattern suggesting better interest for the larger deals with intermediate maturities and particularly those from non-eurozone issuers where liquidity is most likely to be better.
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The sterling high yield bond market on Thursday sent a message of confidence to issuers as UK telecoms firm TalkTalk increased its £300m unsecured bond on the back of heavy demand.
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Barratt Developments, the UK home builder, has lengthened the tenor of a revolving credit facility by two years.
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Corporates from Hong Kong, China and Singapore were clamouring for investors’ attention on Thursday for their respective offerings.
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The Republic of Korea is set to be the first Asian sovereign to sell bonds in the New Year, marketing a dollar-denominated 10 year on Thursday morning.
