JP Morgan
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A series of oversubscribed deals among core issuers could encourage Austria to seek a print in the current market.
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JP Morgan’s corporate and investment bank (CIB) reported an 80% increase in profit in the fourth quarter, as the division’s legal fees and compensation dropped 20%. -
The Government of Mongolia has picked six banks to work on a 144A/Reg S bond that may hit the market as early as next week.
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CYBG, the UK mid-sized bank owned by National Australia Bank, will start building the book for its initial public offering in London next week.
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Hong Kong Airlines had to navigate a crowded primary market on January 13 to price its first dollar bond and raise $180m in the process.
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Export-Import Bank of India (India Exim) has become the first credit outside of north Asia to sell a bond in the region this year, printing a $500m trade on January 13.
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There may be a new man in charge at the Mexican debt management office, but bankers were just as effusive as ever over its $2.25bn of 10 year bond, its first issuance of 2016, on Wednesday.
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The Japan Bank for International Cooperation priced a 10 year benchmark while the Province of Ontario placed a three year bond on Wednesday. Both issuers impressed bankers away from the trades, coming as they did amid difficult conditions.
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Pohjola Bank and NordLB paid slim new issue concessions for five year senior debt on Wednesday, but market participants pointed to the dangers of pushing spreads in too tightly.
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South Korea’s Woori Bank sealed a 144A return to the international bond market on January 12. The issuer’s aggressive pricing strategy kept US investors at bay, but it was unavoidable as the borrower wanted cheap funding, said bankers on the deal.
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The Asia ex-Japan debt capital market was crowded with dollar issuers on January 13, with two investment grade bonds and two high yield notes opening in the morning.
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The European Financial Stability Facility and Nederlandse Waterschapsbank on Tuesday brought euro benchmarks in five and seven year maturities. Now much more at those tenors is expected.
