JP Morgan
-
Serbia and Croatia issued euro-denominated bonds this week. Market participants said the deals showed there was strong appetite for the right kind of sovereign credits. -
-
Non-European names hit the euro market this week with a trio of US companies and Japan’s Nippon Telegraph & Telephone Corp (NTT) raising debt. But syndicate bankers say rising US rates are still way off the sweet spot that would make the euro market irresistible for all Reverse Yankee issuers.
-
Saudi Arabia sold its second euro denominated bond on Wednesday, achieving a negative yield — the first bond of its kind from a Middle East issuer. However, some in the market were underwhelmed with the transaction, which they say is evident in the deal statistics.
-
Nippon Telegraph & Telephone Corp (NTT) had a storming outing in the bond markets this week, easily raising €1bn in Europe and $8bn on the other side of the Atlantic to refinance M&A bridge debt.
-
Croatia was set to price a bond in euros on Thursday, following two other EM sovereign issuances in the currency this week.
-
Indian telecommunication company Bharti Airtel found strong support from global investors for its bond this week, allowing it to raise more money than expected and price the $1.25bn deal at a tight level.
-
Two top tier SSA borrowers hit opposite ends of the curve on Wednesday. Asian Development Bank launched a trade at the 10 year tenor, braving a sharp sell-off in US Treasuries. KfW appeared at the short end of the curve where only a handful of borrowers have printed this year.
-
Saudi Arabia was set to sell its second ever bond in euros on Wednesday. The bond, which will allow the kingdom to further diversify its investor base, is expected to tighten considerably from initial price thoughts.
-
Saudi Arabia mandated banks on Tuesday to arrange a bond in euros, just a month after it last entered the market to raise dollars. The "opportunistic" bond will enable the kingdom to achieve tight pricing and diversification, market participants said.
-
Auction Technology Group, the UK developer of proprietary software for online auctions, has surged by more than 30% in the aftermarket after completing its £273m IPO on the London Stock Exchange on Tuesday.
-
China Aoyuan Group had to pay up to sell a $350m bond on Monday, as investors demanded compensation for the property company’s low rating and the deal’s long tenor.
