JP Morgan
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China Minmetals Corporation is sounding out investors for its inaugural perpetual offshore bond. It will meet with fixed income accounts early next week.
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After several months without any long end dollar benchmark bonds from public sector issuers, two came along at once this week — bolstering confidence that conditions are right for a borrower to print in jumbo size in the tenor for the first time in more than two years.
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Wind Tre, the Italian telecoms group, delivered Europe's largest ever high yield bond issue this week, a €7.3bn deal that has raised the bar for the market and led to expectations that more sponsors will follow suit amid heady investor demand.
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Corporate borrowers dashed to print as investment grade spreads maintained their record levels ahead of a sell-off in US Treasuries, as speculation grew that US president Donald Trump would appoint a policy hawk to replace Janet Yellen as Fed chief.
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Just three months after Nestlé last extended its corporate bond curve, the Swiss food group was back in the market. Last Friday it pushed its range of maturities even further out.
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French food supplier Danone achieved what is believed to be the most tightly priced corporate hybrid capital issue ever on Monday.
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The $1.5bn flotation of EN+, the aluminium and power company controlled by Russian oligarch Oleg Deripaska, in London and Moscow is coming during a hot time for the aluminium market and will help to seal a partnership between Russian producer Rusal and Glencore.
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Two issuers from the Middle East this week printed dollar deals with ease this week, covering a range of maturities from five to 30 years and demonstrating demand across the whole curve.
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In an otherwise quiet week with many companies in corporate close periods, there were two large equity block trades on Monday night, in Moncler, the Italian designer of luxury coats and jackets, and VAT Group, the Swiss maker of vacuum valves.