JP Morgan
-
European corporate bond markets have quickly shrugged off the uncertainty surrounding the UK election result and central bank meetings, and look set for a busy end to June.
-
Hainan Airlines Holding Co and Greenland Holding Group Co printed bonds with tenors of less than one year on Thursday, finding sufficient demand for their deals. But they were forced to pay a premium, given recent talks around China further regulating offshore funding. -
Lotte Chemical Titan Holding opened books on Friday for its MR5.9bn ($1.4bn) Malaysia listing, which is being pitched at a big discount to regional rivals.
-
Enthusiasm for green and social bonds is mounting, and revisions to the Green Bond Principles (GBP) announced this week may give the market a further lift. Many of the same debates still exercise market participants as in the past, but they appear less daunted by these conundrums.
-
-
-
A call by US Treasury secretary Steven Mnuchin this week to lessen the capital burden on banks had a bigger effect on US rates than a well telegraphed Federal Reserve target rate rise, creating some breathing space in long end swap spreads. That could ease long dated public sector bond issuance, but with euro market offering enviable duration funding, there may not be a queue of borrowers ready to print, writes Craig McGlashan.
-
Remarkably supportive conditions in the euro market allowed some rare SSA names to pull off strong deals this week, including a debut in the currency and a return from a two year hiatus.
-
Apple was ripe for the picking this week as investors gobbled up its second green bond offering. But dollar bond supply was otherwise subdued as issuers tip-toed around the two-day meeting of the Federal Open Market Committee (FOMC).
-
ALD, the car leasing division of Société Générale, priced its €1.15bn Paris IPO near the bottom of its initial range on Thursday.
-
VIP Turkey Enerji, a subsidiary of oil and commodity company Vitol, has signed a $700m syndicated loan with 14 banks to finance the acquisition of Petrol Ofisi, Turkey’s largest oil distribution company.
-
China Three Gorges Corp sealed its inaugural offshore green bond on Wednesday, raising €650m from a seven year deal. The notes were sold at a tight spread, with bankers saying that the “European style” execution was due to strong demand from investors.
