JP Morgan

BlackRock added one year to a $4bn March 2021 five year facility this week, with over 30 banks piling into syndication.

Orders for Saudi Arabia’s debut sukuk were over $25bn on Wednesday morning allowing the borrower to tighten pricing ever closer to its conventional curve.

Wobbles in eurozone government bond secondaries this week failed to deter a strong showing from a pair of public sector issuers in primary on Tuesday. Unédic found strong demand and tightened from guidance on its longest dated benchmark ever, while Austria broke a series of records with a 10 year euro benchmark.

Orders for Saudi Arabia’s debut sukuk were over $17.5bn at the first official update on Tuesday afternoon.

The pace of borrowing has slackened for public sector borrowers as Easter approaches but a few are still out hunting for second quarter funding.

Issuers from the Gulf have taken over emerging markets bonds with Saudi Arabia on track to print its debut sukuk on Tuesday. Multiple tranche deals are the flavour of the week with Romania, Mubadala and KazmunayGas all offering multi-faceted deals.

Saudi Arabia was offering up a 20bp-25bp NIP over its conventional bonds at price talk for its debut sukuk on Tuesday, as banker’s debated where the deal will land relative to it’s conventional bond debut.

Shares in Gestamp Automoción and Banca Farmafactoring, which had performed poorly on their first day of trading after their IPOs on Friday April 7, steadied this week, providing relief to equity capital markets bankers anxious to avoid poorly performing deals putting off investors.

Unédic and Austria have announced that they will sell euro benchmarks at the long end of the curve on Tuesday.

Barclays said on Monday that its chief executive Jes Staley was under investigation by the Financial Conduct Authority (FCA), for his attempt to identify the author of a whistleblowing letter. The whistleblower raised questions about a senior employee recruited in the first half of 2016, who had worked with Staley at a previous employer.

Bain Capital and Cinven have agreed to buy Stada, the German generic pharmaceuticals firm, for €4.1bn, in the biggest private equity acquisition of a European company for four years.

Philippine lender China Banking Corp will offer shares in its Ps15bn ($302m) rights issue at Ps31 apiece, following a sharp rally in its stock price.