JP Morgan
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Amundi’s IPO has found a favourable reception in investor education, the company’s CEO, Yves Perrier, said today. -
The belly of the curve was the place to be this week for public sector borrowers in euros — but any other benchmarks before the end of the year are likely to be further out the maturity curve.
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October has been one of the worst months in recent years for FIG issuance. But while some stability — and even a couple of issuers — returned to markets this week, bankers fear that elevated premiums will keep issuance suppressed. November will reveal all about the state of FIG issuance, writes Tyler Davies.
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Public sector borrowers have jumped on demand for Brazilian real notes with a flurry of medium term notes — and there is more in the pipeline, said niche currency and MTN bankers.
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L-Bank jumped on strong momentum in euros this week to print its first benchmark of the year in the currency. The five year note found no shortage of demand and drew the biggest order book the issuer has had since 2006.
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Beijing Automotive Group (BAIC) has priced the second euro-denominated bond by a Chinese auto company, following a recent issue from one of its peers. Seven firms in total were hired as joint global co-ordinators for the €500m ($552m) deal after the issuer added five more banks to the syndicate to reward them for placing anchor orders.
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Japan Post Holdings has priced its IPO at the top of the range to raise ¥693bn ($5.78bn), as the country’s government finds big success with its simultaneous triple listing.
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SNS Bank sold €500m of tier two debt on Thursday, making a convincing return to capital issuance having been expropriated by the Dutch government in 2013.
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Russian steel company TMK has launched a tender offer for its 2018s through Citi and JP Morgan.
