JP Morgan
-
A window for Kangaroo issuance opened this week, as a positive move in the Australian dollar/euro basis swap helped rouse a slumbering market that had not seen a deal for a fortnight. In spite of unstable conditions, SSAs entered the market on Monday and Tuesday, with a trio of regular borrowers tapping six lines for a combined A$575m ($364m). -
Months of bidding for UK retail giant Tesco’s Asia business has finally ended, with Charoen Pokphand Group emerging victorious. Three banks have provided financing to the Thai conglomerate to support the purchase.
-
India’s Tata Steel and Birla Carbon have decided not to syndicate their chunky loans, amid reluctance from the bookrunners to sell down their positions in a slowing market for deals.
-
Indian real estate developer Lodha Developers International offered investors a 14% yield to secure demand for its $200m bond, after being forced to widen pricing from initial guidance.
-
Bank of Montreal reopened the dollar market for Yankee banks this week, using ‘shadow books’ to quickly wrap up the sale of its floating-rate note.
-
-
Europe's high grade corporate bond issuers are being pushed into tight issuing windows by volatility caused by the Covid-19 coronavirus. But investors are prepared for this and so far deals have found strong backing.
-
It was a mixed picture in the dollar public sector bond market on Thursday. A Norwegian agency was able to tighten the spread of its five year fixed rate trade on the back of a well subscribed order book. But a supranational was not able to achieve the same momentum for an intraday three year Sofr-linked floating rate note.
-
New emerging market bond issues have been assessed on a case-by-case basis this week as the spread of the Covid-19 virus delivered sharp swings in global markets. Some borrowers wanted to forge ahead in case of a further sell-off, while others prefer to wait for a recovery.
-
JP Morgan’s latest high-level reshuffle has put a crack team of dealmakers at the top of the firm, and opened room for new leaders to come up. But keeping senior bankers happy can be difficult, writes David Rothnie.
-
New emerging market bond issues are being assessed on a case by case basis as a split between those issuers keen to forge ahead and those preferring to delay emerges.
-
