JP Morgan
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US cash machine maker Diebold, which is acquiring German peer Wincor Nixdorf, has increased the size of its euro and dollar loans and tightened their spreads, amid an improving investor mood in the leveraged loan market. -
Lagardère, the unrated French media company, went beyond its usual five year tenor on Wednesday as it issued a €500m seven year bond that garnered plenty of demand.
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Asian Development Bank printed a A$225m ($170.8m) 10 year bond on Thursday, the largest issue size in this tenor from an SSA borrower in the Australian dollar market since 2014.
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Sunshine Life Insurance Corp has launched a roadshow to test appetite for what would be its debut international bond, while Beijing Automotive Group is mulling a deal of up to Rmb15bn ($2.3bn).
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Portugal breathed some liquidity into a pair of outstanding bonds on Wednesday with its first syndication since January, achieving much lower premiums than its last syndication, according to bankers.
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The European Investment Bank added the latest piece of evidence that a socially responsible label can help drive demand at tricky tenors, as it sold a Climate Awareness Bond on Wednesday that was the largest 10 year dollar bond from a supranational or agency so far this year.
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Mizuho Financial Group has raised $4bn from a triple-tranche bond to meet its total loss-absorbing capacity (TLAC) requirements. All three Japanese global systemically important banks have now issued such notes this year and market participants said investors and issuers are warming up to the product.
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Equity capital markets teams at banks will need a very good second quarter to make up for the weak first one, which left volume more than 50% down on last year’s run rate in both Emea and the Americas.
