JP Morgan
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Cott Corp, the US-Canadian drinks maker, on Thursday sold a €450m bond to support its buyout of Eden Springs of Switzerland. -
Two new borrowers launched deals in the European high yield market on Monday, PVH and Salini Impregilo. Both are double-B rated, like most of last week’s deals.
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Standard Chartered Bank has raised W109bn ($92.9m) after exiting from South Korea’s Innocean Worldwide, in a deal priced at the wide end of the discount range.
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Wuxi Construction and Development Investment Co and Bank of Communications Financial Leasing are getting ready to hit the dollar bond market as early as this month.
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Investors’ thirst for stock in Dassault Aviation, the maker of Mirage and Rafale fighter jets, was evident last March when Airbus sold €1.76bn of it in a block trade. It was clear again on Thursday night when Airbus launched a two-pronged monetisation of its entire remaining 23.6% stake.
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Dong Energy’s IPO, the biggest in Europe so far this year, achieved a strong result, both in its bookbuild, which raised Dkr17.1bn ($2.6bn), and on its first day of trading on Thursday, when the shares jumped 10%.
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The response to some of this week’s dollar deals has got some bankers believing that next week’s US Federal Reserve meeting might not prove to be the market shutting millstone that it had promised to be just a few weeks ago.
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The Irish telecommunications firm Eircom Holdings on Tuesday issued a benchmark size secured bond 25bp inside guidance levels — giving heart to issuers that would rather not wait for the UK referendum result.
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Amid a hail of equity capital markets deals on Thursday evening, Airbus launched a €2.1bn sale of all its remaining shares in Dassault Aviation, using a €1bn exchangeable bond and block trade of about €800m. That came after Valeo had sold a $450m equity-neutral convertible earlier in the day, and as two other block trades were in the market.
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JP Morgan raised €2.5bn of two year senior floating rate notes on Tuesday, using favourable market conditions to generate a negative new issue premium.
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