JP Morgan
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Mr DIY Group has kicked off the roadshow for its MR1.5bn ($362.7m) IPO, set to be Malaysia’s largest listing in over three years. -
Risk appetite has returned to the high grade corporate bond market, with UK airport Heathrow and US drinks firm PepsiCo managing to move spreads by around 45bp during execution.
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Sweden is preparing to issue a two year dollar bond in what is likely one of the final syndicated deals from eurozone sovereigns this year.
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The European Financial Stability Facility mandated banks on Monday to lead a euro dual tranche transaction in what could be the issuer’s first and final outing of the fourth quarter.
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Green, social and sustainable issuance has dominated the supranational and agency bond market for a whole month, consistently outpacing conventional supply. That trend looks set to continue with three SRI deals already on screens.
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Saga, the cruise line operator and provider of retirement services to the elderly, has finished a multi-leg £150m ($193m) recapitalisation intended to repair its balance sheet following a collapse in bookings owing to the Covid-19 pandemic.
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Indonesian property company Alam Sutera’s move to kick off an exchange offer last week to stave off pressing financial concerns was met with ratings downgrades from two of the three global ratings agencies.
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A record month for US mergers and acquisitions will fail to boost the dollar corporate bond market, as bankers predict a sharp slowdown in activity in the fourth quarter.
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US banks could be set for an extended hibernation from the dollar market after entering third quarter earnings blackout.
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Two borrowers visited the long end of the dollar curve this week and while both completed their deals successfully, investors clearly displayed more appetite for the higher yielding of the pair.
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Bank Nederlandse Gementeen kicked off a busy week for socially responsible bond issuance by public sector borrowers with a well-received 12 year sustainable bond, its longest ever deal in that format.
