JP Morgan
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The European Investment Bank this week cut the ribbon on the post-summer market for large dollar benchmarks, although there were more than a few nervous glances ahead to this Friday’s Jackson Hole speech by US Federal Reserve chair Janet Yellen.
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The $1bn loan for telecoms firm MTN needed an accordion feature to get it to target size, even though the loan market has so far shrugged off the volatility surrounding allegations against the country’s finance minister.
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Hemso Fastighets and Galp Gas Natural Distribuiçao on Thursday mandated banks to issue bonds during the first two weeks of September.
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The State of North Rhine-Westphalia sold on Thursday the longest dated benchmark ever from a German state, in a move which may encourage other Laender to follow suit.
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The long end of the Kanga curve saw action this week, as Japanese investors hunted for yieldy paper.
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Swedish Export Credit Corporation had to boost the size of a deal on Wednesday as investors flocked into its books, adding to a strong run for short dated dollar issuance over the last few weeks.
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Bank Nederlandse Gemeenten has tapped a June 2024 line, managing to print €400m despite offering a negative yield. Land NRW will sidestep the negative yield problem on Thursday by moving out the curve.
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The $4bn of loans for Steinhoff’s acquisition of Mattress Firm are in syndication and due to be signed next week, according to a banker involved in the deal.
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The European Investment Bank returned to capital markets with a splash on Tuesday, indicating that, what passed for 2016’s summer break is coming to an end.
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Doosan Bobcat is expected to start gauging sentiment for its $1bn-$2bn IPO in South Korea immediately after the securities registration statement is filed on September 8, according to bankers on the deal.
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The European Investment Bank kicked off post-summer jumbo dollar issuance on Tuesday with a well-received five year deal, as another issuer jumped in with a shorter dated mandate.
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Slovenia intends to buy back up to $1bn of dollar denominated debt following the successful placement of a new euro bond, the country's debt office said on Tuesday.