JP Morgan
-
Europe’s investment grade corporate bond market has almost caught up with last year’s volume, after a dire start to the year, but issuance in the next nine days is likely to be very quiet, leading up to the Brexit referendum on Thursday June 23.
-
US fashion brands group PVH Corp on Tuesday sold its first bond in the euro high yield market, amid growing concerns that the UK could vote to leave the European Union. -
Sysco Corp, the US food service group, completed the financing for its acquisition of UK peer Brakes Group on Tuesday with a €500m bond that was successfully sold in the teeth of market volatility.
-
FCA Bank, the Italian car finance bank, joined US company Sysco in issuing a euro corporate bond on Tuesday, despite turbulent market conditions — and like Sysco, achieved a good result.
-
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.
-
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.
-
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.
-
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.
-
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%.
-
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.
-
