JP Morgan
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Bahrain’s Oil and Gas Holding Company (Noga) had taken books of $2.6bn for its debut 10 year bond on Wednesday, while bankers debated the significance of the spread over the Bahraini sovereign. -
Seven of the eight benchmark investment grade corporate bonds to have been priced in euros in the last fortnight have been from utilities. And longer dated utility bonds were also among the best performers in the third quarter.
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Three agencies launched short end dollar transactions on Tuesday, two of which managed to pull their spreads into impressively tight levels.
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The International Finance Corporation achieved the tightest level of the year with a $1bn five year green bond, after managing to pull in its spread 3bp from initial price thoughts to final spread.
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The €549m IPO of SMCP, the French fashion group, is set to be priced at €22 a share, valuing the business at €1.57bn.
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Panamanian commercial lender Banco General is distributing a $500m loan into the Asian market, the second time it has tapped bank liquidity in the region.
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Malaysia’s Press Metal Aluminium Holdings has mandated banks for its maiden foray into the dollar bond market.
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Agencies from the Netherlands, France and Germany are set to come to market on Tuesday for short dated dollar deals.
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The International Finance Corporation hit screens on Monday, announcing its intention to sell a $1bn green bond on Tuesday.
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Sogou, the internet search arm of US-listed Sohu.com, has filed for a $600m IPO on the New York Stock Exchange.
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It is barely six months since Mongolia pulled off a daring debt exchange after the country’s finances — and its credit rating — fell into disrepair. But the new government is now planning a full return to the debt market, having picked three global banks to help ease a passage to the market.
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