JP Morgan
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Unperturbed by softer markets of late, Russian steel firm Evraz was on track to print a bullish six year bond on Monday morning. -
Attractive pricing helped Kuwait build a huge order book on Monday morning for its debut bond as bankers debated where pricing should land for the sovereign.
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The Lebanese Republic has mandated four banks to tap into the long end of the bond market with a multi-tranche dollar deal, ahead of what bankers expect will be another busy start to the week ahead of Wednesday’s Federal Open Market Committee meeting.
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Bain Capital has completed its second block sale of shares in Ibstock, the UK brick maker, since its £354m IPO on the London Stock Exchange in October 2015.
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The African Development Bank (AfDB) this week became the latest public sector borrower to enjoy the red hot dollar market, printing a trade that drew an order book larger than its entire 2012 funding programme. Widening swap spreads have been a major factor in the dollar market’s fantastic run this year but a double whammy of event risk next Wednesday could bring it shuddering to a halt, writes Craig McGlashan.
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Russia supply looks set to continue next week following the announcement by Gazprom of plans for a long-awaited return to the dollar market and the start of yet another liability management exercise from Evraz.
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Ineos Styrolution this week completed a loan refinancing with margins well below the 350bp market average for new deals — but the pricing will be replicated by the leveraged market’s top credits, said market participants.
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Azerbaijan’s Southern Gas Corridor Company raised $1bn with a tap of its outstanding 2026s on Wednesday but fell foul to underlying rate movements which meant that it did not price at the tight end of guidance, according to a lead banker.
