JP Morgan
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Bond spreads now only provide marginal compensation for political risk to investors, JP Morgan said on Monday, with the largest ever outflow from European investment grade retail funds last week. -
Polish energy provider Energa SA is meeting investors this week for its first Polish non-financial corporate bond since June last year, which will also be the first corporate deal from anywhere in Central and Eastern Europe this year.
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Mongolia has mandated banks for a new dollar deal to be issued in part to fund an exchange offer for the Development Bank of Mongolia’s bonds maturing next month. The announcement comes just after the International Monetary Fund agreed to a $5.5bn bailout for the debt ridden country.
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Japan Bank for International Cooperation (JBIC) made a rare appearance in three year dollars this week, opening the way for its peers to follow. But there is little in the dollar pipe from Japanese or any other SSA issuers — all of which are well funded — after a week when US rate expectations were jolted by comments from Federal Reserve chair Janet Yellen.
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With four big loan deals already in the market for Omani borrowers this year and more expected, bankers are concerned that lenders could fast run up against country limits. With a big hole to plug in Oman's budget, spillover to the bond market looks inevitable, writes Bianca Boorer.
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US confectionery and pet food firm Mars is seeking two term loans of $2.5bn each to back its acquisition of animal healthcare company VCA.
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A trio of Wall Street titans topped up their funding needs this week, taking advantage of favourable funding conditions as they continued their run of issuance to meet upcoming capital requirements.
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Kuwait Projects Company (Kipco) attracted more than $1.4bn of orders for a new 10 year dollar deal after tightening pricing to 4.75% area.
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Turkey has made an opportunistic move to reopen its recent 10 year bond with a tap to raise an expected $1bn.
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UK mortgage lender Together Financial was the only new deal in the European high yield bond market of the week when, on Wednesday, it sold a sterling offering that received firm demand in a rare example of a single-B name opting for bonds over leveraged loans.
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MD Medical Group, the Russian private hospitals group that specialises in paediatric and maternity care, will consider a share sale on the London Stock Exchange to partly finance the opening of 10 new medical facilities across Russia over the next three years.
