JP Morgan
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Tyco Electronics and Tyco International baffled bankers this week by announcing mandates for euro bonds within days of each other. -
Swedbank on Thursday took to the dollar market to sell the first additional tier one from a Nordic bank with a conversion to equity feature.
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Smurfit Kappa Group, the Irish packaging group, priced a €250m 10 year high yield bond on Wednesday evening that found solid demand, after announcing higher earnings and revenue for 2014.
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Nigel Walder has quit JP Morgan after over a decade at the firm to move to Bain Capital. He was most recently a managing director for European leveraged finance capital markets, and had been in that role for three years.
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Telecommunication tower operator Solusi Tunas Pratama (STP) is looking to tap the offshore market for the first time, opening books to a $300m bond on February 12.
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Argentine quasi-sovereigns are continuing to benefit from investor hopes for a settlement between holdout creditors and the government by issuing cross-border bonds — and are helping to alleviate the country’s dollar shortage in the process.
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Chinese property developer Evergrande Real Estate Group has tapped the dollar bond market for the first time in 15 months, raising $1bn from a five year non-call three transaction. But even though Evergrande managed to get a big deal away, it nevertheless failed to meet its target for the trade.
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Severstal has bought back $221.4m of its 2016 and 2017 bonds after raising the buyback price last week. The Russian steel company had hoped to buy back up to $600m of the bonds.
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The Asian high yield market seemed to have finally got going in late January, with a parade of borrowers successfully pricing bonds. But the apparent failure of trades from two southeast Asian credits has taken its toll, shutting the market to further deals. With conditions already difficult, leads should act more responsibly — and say whether the bonds are going ahead or not.
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Chinese property developer Evergrande Real Estate Group is tapping the offshore market with a rather uncommon strategy on February 10, opening books to a $1.5bn bond with pricing already fixed.
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Electricity Supply Board, the Irish power company, has amended and extended a €1.44bn loan facility with Intesa Sanpaolo and Santander joining the syndicate for the first time.
