JP Morgan
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First Quantum Minerals raised $2.2bn for refinancing purposes on Thursday, in what was said to be the biggest corporate high yield bond issue from the CEEMEA region ever - though it was the same size as a VimpelCom deal in 2011.
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Shares in Tullow Oil, the UK oil and gas drilling company, fell 16% on Friday morning after it announced plans for a £607m rights issue to strengthen its balance sheet after oil prices have rallied from their slump in 2015.
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SNCF Réseau is set to bring its second green bond after mandating banks for a Reg S euro benchmark deal on Friday.
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Expectations that a bond that already looked expensive will be become even more so helped Bolivia’s new 10 year trade well on the break after coming close to comps on Monday.
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Each of the 10 companies that have launched offerings in the European high yield bond market since Monday had different reasons to schedule their deals this week, but were rewarded with the most issuer-friendly pricing yet. It cannot get better, bankers and investors warn borrowers.
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Two more IPOs of significant size were announced this week in Western Europe, and with four weeks to go until the start of the Easter holidays, they are likely to be the last of this IPO season to be launched.
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Netherlands-based telecoms firm Altice, one of the European leveraged finance market’s leading issuers, held a lender call at 3pm London time on Thursday for €1.6bn of loan refinancings in euros, and more in dollars.
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Cerba has increased its buyout term loan to €794m after dropping a planned bond. It is the second successive large cap buyout this year in which that has happened.
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Poland was quick to grab on to the relief rally that followed Wednesday's US Federal Reserve meeting, jumping into the market with a long 10 year and a tap of its existing €1.5bn 2036s on Thursday morning.
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South Korean mobile game developer Netmarble Games plans to submit its IPO prospectus on Friday and start pre-deal investor education on March 20, according to a banker working on the deal.
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Gazprom became only the second Russia corporate to target the 10 year maturity in dollars since 2013 on Thursday, emerging with initial price thoughts for a new 144A/Reg S benchmark.
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Turkiye Sinai Kalkinma Bankasi (TSKB) has announced plans to roadshow an inaugural Basel III compliant tier two dollar deal, a week after Akbank’s successful debut in the format.