HSBC
-
Bank of Communications priced its two year dim sum deal on March 13, tightening from initial guidance with a strong orderbook that closed at Rmb3bn ($488m). -
More emerging market issuers could look to the Kangaroo market in the near future as they attempt to replicate the success of National Bank of Abu Dhabi’s second deal in the format. The trade, sold Wednesday, appealed to yield-hungry Australian investors.
-
There was plenty of demand for long dated notes in sterling this week. While Mexico kept the public market busy, Transport for London took advantage of interest to debut in the private placement market with what bankers believe is the first 50 year sterling private placement since 2010.
-
French mobile telecoms firm Bouygues increased its bid for domestic rival SFR this week, as it increased the cash component of its offer from €10.5bn to €11.3bn and announced plans to sell part of its network to competitor Iliad if its bid proves successful.
-
The heyday of the Spanish Cédulas market may be long gone with the product presenting something of a rare commodity in the primary market these days, especially at the long end of the curve. But this week investors got their chance to buy when CaixaBank issued Spain’s second only covered bond of the year and the second only 10 year in two years, even though the issuer admitted it did not need the funding.
-
Investors in long dated senior unsecured debt appeared to have abandoned their yield targets this week, sending coupons below 3% on a Banque Fédérative du Crédit Mutuel fixed rate transaction, amid one of the busiest weeks of activity in the senior unsecured financials market this year.
-
Santander and BNP Paribas printed their first dollar trades of 2014 as demand for investment grade paper continued its strong run.
-
-
-
Printing $8.5bn, Petrobras did not break EM issuance records this year, and the state-owned Brazilian oil company paid a larger new issue premium than it is used to. But LatAm bond bankers said that the hefty amount the company raised towards its big investment programme was success enough given the negative sentiment surrounding Brazil.
-
-
A trio of rare dollar issuers took to the short end of the curve this week, supplying investors at a point that has been starved of new deals this year. The Kingdom of Denmark drew the strongest response, beating out even the Bank of England in terms of demand and pricing at the same level.
