JP Morgan
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US companies have smashed the all time record for bond issuance this month, as they plundered the dollar market in a headlong dash for liquidity that continued on Thursday, even though a darker record was broken: 3.3m new unemployment claims, more than four times the previous highest. -
The Inter-American Development Bank on Thursday started marketing a five year sustainable development bond in Global format as it looks to become third SSA borrower to jump into the dollar market this week. But SSA issuers that fund in euros will unlikely be able to mirror join the party.
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A trio of UK companies drew down on their revolving credit facilities this week, as firms in the country build up their cash piles despite an unprecedented financial support package from the government.
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European issuers have got their wish thanks to deals from European Investment Bank at three years and a five year from KfW on Wednesday.
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The Republic of Austria and the African Development Bank announced new bond transactions on Wednesday which will be used to provide emergency financing in response to the coronavirus outbreak.
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JP Morgan Chase has sold £59m of shares in BT Group, the UK telecommunications company, on behalf of former holders of BT’s American Depositary Receipts.
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Bank of America has become the first financial institution to launch a new deal in the European credit market for over a month. The US lender paid a huge premium for its €1.5bn senior bond on Tuesday, but it was able to move past its initial price thoughts on the back of a solid set of orders from investors.
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Kuwait's Equate Petrochemical stuck its head above the parapet this week, holding investor calls for a triple-tranche bond issue.
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L-Bank postponed its dollar transaction on Thursday after not receiving enough orders for the targeted deal size. The trade had been structured as an auction, with investors invited to place bids over their desired level versus mid-swaps. After taking indications of interest, no further updates followed.
