JP Morgan
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A 10 year deal from JP Morgan on Friday showed US banks are finding more opportunities for Swiss franc funding than their European peers. -
Argentina fever has gripped financial markets after the sovereign’s record breaking return to international bond markets this week, with sub-sovereigns likely to be the first to take advantage of the clamour for bonds.
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Banco Nacional de Costa Rica (BNCR) sold the first ever high yield green bond from Latin America on Wednesday, jumping on the momentum in a buoyant market provided by Argentina’s jumbo bond comeback.
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European Central Bank president Mario Draghi kept his powder dry at his latest monetary policy meeting on Thursday, sending eurozone government bond yields higher — something that is likely to be welcomed in the offices of the European Stability Mechanism.
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The European IPO market’s busy spring season received further encouragement this week, when its second and third major deals, for Forterra and Mediawan, were both completed — though Forterra’s was priced at the bottom of the range and edged down in trading.
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Vallourec’s €480m rescue rights issue is heading for a successful conclusion on Friday April 22, bankers working on it said this week.
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Italy’s Fondo Atlante became operational on Thursday morning, having been approved by Italian market regulator Consob and reached the threshold of raising €4bn from its backers. At the same time, the bookbuild has been launched for the IPO of Banca Popolare di Vicenza.
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Covered bond activity slowed this week with only three deals emerging, half the number seen in the prior week, with Canadian issuers at the fore.
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A pair of rare SSA names kept Kangaroo and Kauri bond supply ticking over this week, as Asian investor appetite drove demand.
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Italy’s Fondo Atlante is now operational, having been approved by Italian market regulator Consob and reached the threshold of raising €4bn from its backers. At the same time, the bookbuild has been launched for the IPO of Banca Popolare di Vicenza.
