JP Morgan

Three issuers broke the brief new issue hiatus in the CEEMEA market on Thursday, all starting with wide levels to tempt investors into their books.

Glencore, the Swiss-based mining and commodities group, issued a $500m seven year equity-neutral convertible bond on Tuesday that achieved terms described as very aggressive. It attracted around 100 investors, including a couple of sovereign wealth funds.

Globalworth, an AIM-listed real estate investment trust focused on Poland and Romania, released initial price guidance for a euro benchmark seven year bond at 3.375% area, talk that a syndicate official away from the note represented around a 40bp pick up over fair value. The talk was later in the morning updated to 3.125%-3.25% with leads saying the deal will price in range.

After wrapping up investor meetings on Monday, Abu Dhabi Commercial Bank has opened books on a new five year dollar deal, offering around 30bp premium in order to attract investors in a "shakier market.”

Ukrainian poultry producer MHP was offering a chunky concession to its own curve on Thursday as it looks to push out its debt maturity profile with a new issue to finance a buy-back of its 2020s.

Asia’s dollar bond issuers were back in the market on Thursday after taking a pause during the US Federal Open Market Committee meeting this week.

The power of equity capital markets to solve complex corporate finance problems elegantly was vividly demonstrated on Tuesday night when JP Morgan and Crédit Agricole led a €2bn sale of Vivendi’s whole 27% stake in Ubisoft, the video game developer, writes Sam Kerr.

Details have emerged on £1.5bn of underwritten loans for the UK’s Phoenix Group, as the life assurance fund consolidator moves closer to its £3.24bn cash and shares purchase of Standard Life Aberdeen’s insurance arm.

GlobalCapital revealed the winners of its Equity Capital Markets Awards 2017 at our third annual Awards Dinner in London on March 20. CEOs and CFOs were present to collect Awards for landmark deals such as the UniCredit and Santander rights issues and the IPOs of Allied Irish Banks and Pirelli.

Glencore, the Swiss commodities trading and mining company, has breathed some life into Europe's equity-linked market with a $500m equity-neutral convertible bond due in 2025.

The Council of Europe Development Bank returned to the market for socially responsible investments on Tuesday, printing a seven year “social inclusion” bond.

The strong performance of Siemens Healthineers in the aftermarket has boosted the European IPO market and a raft of new listings are already covered ahead of their conclusions this week.