JP Morgan
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Nissan Motor made its debut in the European bond market on Friday with a €2bn deal that investors would have liked larger and differently shaped, just a day after it had issued its first ever foreign currency bond, for $8bn. -
Saudi Electricity Co, which is majority-owned by the kingdom of Saudi Arabia, has raised its debut green sukuk — making it the first green bond ever issued by a Saudi issuer, just months after the Ministry of Finance raised a green export credit agency-backed syndicated loan.
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Seven Yankee banks stole a march this week in the race to frontload funding, as September got off to its usual red-hot start in dollars.
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Chinese hospitality company Huazhu Group has launched a secondary offering in Hong Kong, the latest in a growing number of dual listings on the bourse.
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Ford, the US car maker, offered investment grade bond investors a chance to dip into high yield on Tuesday. And its rival, Nissan Motor, is lining up a seven tranche behemoth bond issue that will create a euro curve out to eight years.
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Issuance in Europe’s high grade corporate market trended towards high beta names this week, with a spate of deals from riskier names, including the first outing for German fallen angel ZF Freidrichshafen since its downgrade.
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Two public sector borrowers managed to get euro deals done in the primary market ahead of the European Central Bank’s governing council meeting on Thursday, with World Bank issuing its biggest ever bond in euros longer than 10 years and Hamburg comfortably crossing the line despite an embarrassing start to the execution process.
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Europe’s corporate bond investors had the spectrum of credit ratings to pick from on Thursday, from A- rated Volvo Treasury down to German speculative grade fallen angel ZF Friedrichshafen.
