JP Morgan

GlobalCapital is pleased to announce the winners of this year’s Global Derivatives Awards. The winners were unveiled at a gala dinner at the Banking Hall in London on Wednesday night.

Europe’s high grade corporate bond market maintained its steady flow of new issues on Wednesday, with Infineon Technologies heading into the euro market for a dual tranche hybrid, while BMW drove by in sterling and more names populated the pipeline.

The struggling carmaker issued $150m of senior secured notes in a private placement priced at steep 12%, hiking up its leverage ratio. S&P showed no mercy and instantly cut Aston Martin’s credit rating to CCC+ from B-, leaving the firm on outlook negative. The company is betting its future on the risky launch of a family-friendly luxury SUV.

Scatec Solar, a Norwegian solar power generator, raised Nkr1.3bn (€132m) of growth capital in a share sale on Tuesday evening amid rising investor demand for renewable energy assets in Europe.

Three borrowers from the Middle East came to market on Tuesday, raising a combined $3.35bn from five tranches across the curve. The deals come on top of a period of heavy supply, including Abu Dhabi’s $10bn triple trancher on Monday.

Nordgold, a gold mining company with assets in Russia, Kazakhstan, Burkina Faso, Guinea and Canada, has mandated banks for its first bond in more than six years.

Chinese companies came to the international bond market in force on Tuesday, just days ahead of a week-long holiday in the Mainland to celebrate National Day.

Kommuninvest kicked off the dollar market this week with a $1.25bn blowout, despite it being at record tight levels over Treasuries, according to a banker on the deal. Following on from Kommuninvest’s deal, a wide range of SSAs look to print across the curve, including rare issuer IDB Invest with its five year dollar bond debut.

The US’s Thermo Fisher Scientific had a barnstorming outing in the euro bond market on Tuesday, raising hopes that fears of an oversaturated market were overblown.

French agency SNCF Réseau steamed on to screens on Tuesday with initial pricing thoughts for a tap of its December 2047 green bond.

Garbe Industrial Real Estate, a German developer, has announced its intention to float Logistrial, its logistical properties unit, on the Frankfurt Stock Exchange.

Abu Dhabi printed a huge $10bn bond on Monday with no roadshow and a 30 year tranche that was 20bp tighter in spread than its last bond of the same maturity printed in 2017. But though the deal seems to have been triumphant for Abu Dhabi, the notes were around 2bp wider on Wednesday and investors are fretting that large EM supply is causing some indigestion in the market.