JP Morgan
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Public sector borrowers from the eurozone periphery are preparing a flurry of issuance in the next few days, with one still smarting from a change to its rating outlook late last week. -
International Flavors & Fragrances was the only corporate issuer in the euro bond market on Monday as the US company made its debut offering in the currency.
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Bank Nederlandse Gemeenten is this week set to be only the second issuer in 2016 to attempt a 10 year dollar benchmark, while a trio of other SSAs are also entering a dollar market bouncing from strong US jobs data on March 4.
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Kuwait Projects Company (Kipco) will open books on a seven year bond after completing investor meetings on Monday.
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Covestro, the German polymer manufacturing business spun off by Bayer last year, made its first bond issue on Thursday, raising €1.5bn in three tranches.
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South Korea’s Shinhan Bank has mandated five banks for its bank capital debut in the international bond market.
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Netmarble, the South Korean computer and mobile game developer, has mandated two international and two local firms for an IPO that could raise as much as W2tr ($1.6bn) this year.
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Two Turkish bond deals this week were seen as a welcome treat for investors starved of recent supply from the country, and more is still in the pipeline.
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The Islamic Development Bank (IsDB) printed on Thursday morning its $1.5bn five year sukuk “well inside” its own curve, according to a syndicate banker on the deal. The profit rate was lower than its last outing despite the spread being much wider.
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Georgia Power has become the second investment grade US utility — and the second Southern Company subsidiary — to issue a green bond, as its peers assess the instrument’s potential.
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The Islamic Development Bank has released initial price thoughts of mid- to high- 50bp over mid-swaps for a five year dollar benchmark sukuk, with central banks expected to be the biggest buyers.
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The only spark of new issue activity this week from CEEMEA is an Islamic Development Bank sukuk, but EM bankers in London are also busy with a European roadshow from Femsa.
