JP Morgan
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Borrowers hit screens in euros from three to 50 years this week, all enjoying heavily subscribed books and pricing with skinny new issue premiums thanks to investors’ confidence in consistent support from the European Central Bank. -
Société du Grand Paris hoovered up strong demand this week to sell the longest ever public syndicated green bond. The French agency was joined by three other public sector borrowers in raising socially responsible bonds this week, including the first European city to issue a social-labelled bond.
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World Bank cemented its status as one of the leading sterling issuers in the public sector bond market with a record-breaking 10 year deal on Thursday.
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South African gold mining company Gold Fields Ltd has raised R3.7bn ($252m) of fresh capital to fund the construction of a new mine in Chile.
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JP Morgan has appointed two new co-heads of investment banking coverage for Australia and New Zealand, according to an internal memo seen by GlobalCapital Asia.
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Italian banks have been piling into the primary bond market in the first quarter, capitalising on an incredible rally in the sector as investors look for new sources of value.
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World Bank mandated banks for a 10 year sterling deal on Wednesday — an extremely rare trade from a non-UK public sector borrower, but in line with the trend of issuers going out longer in the sterling curve.
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Siemens, the German machinery group, paid an average yield of 0.12% for €4bn of debt spread over three to 12 year maturities this week, as investors leaped at the chance to snap up highly rated corporate debt.
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Nordic banks Länsförsäkringar Bank (LF Bank) and Landsbankinn were able to offer “attractive value” in the preferred senior market this week, amid a general hunt for yield among credit investors.
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The European Investment Bank raised €3bn on Tuesday with a five year deal, receiving €14bn of orders for a deal capped at €3bn.
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Two sterling public sector bond issues were announced on Tuesday, but aside from timing, the trades had little in common. The UK Debt Management Office printed £2.5bn at 50 years, while the International Finance Corp raised £350m with a seven year.
