JP Morgan
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KfW returned to the market on Wednesday for its second five year euro benchmark of the year. The €5bn 0% July 2024 note was issued with the lowest yield the German agency has ever paid. -
Magnitogorsk Iron & Steel Works (MMK) broke a 16 year bond market hiatus with a five year dollar benchmark on Wednesday, raising $500m without paying a new issue premium.
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The US’s Occidental Petroleum has completed an $8.8bn loan and is raising a $13bn bridge to back its $57bn purchase of Anadarko Petroleum, with a bevy of lenders getting in on the action.
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JP Morgan has hired former UBS banker David Xu to lead onshore equities as it readies the launch of its Mainland securities joint venture.
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Cinema company Vue International has relaunched the refinancing of its capital structure that was mooted last year. It wants to clear out sterling and euros high yield bonds and replace them with euro loans.
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Investors proved their appetite for corporate bonds this week by gobbling €5bn of them on a single day, as Publicis Groupe and BMW issued jumbo deals on a second consecutive day of heavy issuance in Europe.
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KfW returned to the market for its second five year euro benchmark of the year. The €5bn zero coupon note was issued with the lowest yield ever printed by the German issuer.
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The World Bank has returned for its third Sonia-linked note, with the issuer taking indications of interest for a 3.5 year sterling benchmark trade.
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Iceland plans to defrost its euro curve with a new syndicated issue, its first since December 2017.
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Magnitogorsk Iron and Steel Works (MMK), the second largest steel producer in Russia, released price guidance for a $500m five year bond on Wednesday at a level that one EM investor said looked “interesting”.
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After 10 days of very scanty issuance and some weak markets, more stable conditions on Tuesday brought a salvo of five deals to the euro corporate bond market, offering a wide range of single-A and triple-B credits.
