JP Morgan
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More US companies are rushing to take advantage of rising share prices by issuing convertible bonds, including Ford Motor Co, which is bringing a giant $2bn deal. -
Chinese video sharing and gaming platform Bilibili is set to launch its Hong Kong secondary offering this week, after winning listing approval from the city’s bourse.
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Europe’s high grade primary bond market was pumping out deals with double figure new issue concessions on Tuesday, though German real estate company Vonovia’s planned debut green deal will test whether ESG demand is still rampant enough that the borrower won't have to offer extra.
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Deutsche Bank and Standard Chartered were marketing green and sustainable bonds in dollars on Tuesday, following a tricky period for new deals in the currency.
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Standard Chartered gave euro investors another rare opportunity to build exposure to UK subordinated debt on Tuesday, as it followed Barclays in issuing a tier two transaction in the currency.
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Agence France Trésor (AFT), the French sovereign debt office, mandated banks on Monday to lead the sale of the sovereign’s second green OAT, returning to the market for the first time since its debut in 2017.
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Russian Railways issued a rouble bond on Thursday. Russian companies may steer away from the dollar market as discussions around fresh sanctions on Russia continue.
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Cellink, the Swedish developer of 3D printing equipment for living cells, rose in trading on Friday morning after the company completed a Skr3bn ($350m) sale of new shares and convertible bonds to finance its acquisition of MatTek Corporation in the United States.
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Any fears about the resilience of the US corporate bond market were set aside on Thursday when Verizon Communications amassed a $115bn orderbook and printed one of the biggest deals of the year.
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European banks will exercise extreme caution in dollars after an ill-fated senior deal from Swedbank this week. It could signal the end of a long run of ultra-easy borrowing conditions in US credit markets, with severe volatility stemming from fears of rising interest rates. Tyler Davies reports.
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