JP Morgan

UK TV production company All3Media followed French insurance broker April in attempting to improve pricing on a loan signed just six months earlier, opportunistically looking to lock in a tighter margin before the market closes for the year.

Investors showed some price sensitivity when confronted with the State of North Rhine Westphalia’s (Land NRW) dual tranche sustainable offering on Wednesday. Nevertheless, compatriot issuer Rentenbank will add to euro SSA supply this week after mandating banks for a new 10 year benchmark.

Legal & General Group (L&G) was four times subscribed for a £600m tier two in the sterling market this week, as it looked to strengthen its capital position.

Financial institutions are rushing to sell new deals in the euro market, fearful that the window for issuance will close after Thanksgiving in the US next week.

Saxo Bank gave investors a chance to pick up one of the highest yields on offer in the additional tier one (AT1) market in euros this week, albeit in a very small sub-benchmark size.

Ageas is offering to purchase FRESH securities — a series of legacy capital instruments — from its investors, in a bid to improve its capital structure. The Belgian insurance company intends to replace the notes with a new restricted tier one bond in euros.

Struggling car manufacturer Jaguar Land Rover raised €800m from a dual-tranche bond this week, pricing both parts at the tight end of guidance despite an uncertain outlook for the UK auto sector and a deal structure described as "high-yield lite" by one credit analytics company.

The State of North Rhine Westphalia (Land NRW) was the only public sector borrower to announce a euro benchmark transaction on Monday, as it appointed banks to lead new 10 and 20 year sustainability bonds.

Hollywood special effects company DNEG has postponed its £225m IPO on the London Stock Exchange, blaming poor market conditions.

Alibaba Group Holding has fixed the price for the retail portion of its secondary listing in Hong Kong after launching the deal without a marketing range, according to an announcement by the company.

OneConnect Financial Technology, an arm of Chinese financial conglomerate Ping An Group, has set the ball rolling for an up to $100m US IPO, having previously sought to list in Hong Kong.

Goldman Sachs set the lowest coupon of 2019 on a new preferred deal in the institutional bond market this week, while BNP Paribas buried the memory of its troubled dollar trade in January with a storming come-back.