JP Morgan
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Every Japanese investor that Brazil met on a roadshow in December asked the sovereign to issue yen bonds, said Paulo Valle, Brazil’s deputy treasury secretary, in the wake of the sovereign’s first euro bond issue since 2006. -
Svenska Handelsbanken mandated banks for a five year Kangaroo bond on Monday, the first senior unsecured deal in the format from a Scandinavian bank.
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Chinese real estate services company E-House will launch the $200m spinoff of its online business, Leju Holdings, as early as this week, according to a banker on the trade.
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Perusahaan Gas Negara is looking to make a return to the dollar market after a ten year absence. Alongside Pertamina, it marks a re-emergence by Indonesian names as investors take on a more positive view of those credits.
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The world’s largest pork processing company has launched its jumbo IPO with a 28-strong syndicate, which could results in some disagreements, particularly as the valuations of comparable companies are so diverse, said bankers on the trade.
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Brit Insurance completed its IPO on Friday, but saw its shares trade down by 4.5% in the afternoon on the back of news that the Financial Conduct Authority is planning a regulatory probe into the insurance sector.
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LG Electronics is looking to make a return to the bond market after an almost two year absence.
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Bayer, the German chemical company, tapped into the growing demand for floating rate notes on Tuesday with a €500m no-grow three year deal.
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It is not every day that two of the top Belgian corporate credits are in the bond market on the same day, but that happened on Wednesday. As one banker joked, the Belgian corporate market had been boosted by President Obama’s visit to Brussels that day.
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The European corporate bond market had already seen plenty of fireworks by Wednesday but there was no let-up on Thursday.
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Bank of Nova Scotia’s inaugural legislative covered bond, issued this week, is unlikely to offer much performance and is not eligible for bank liquidity buffers, but it offered genuine diversification to a hungry market. At 9bp the deal was priced on the tight side of expectations with little scope for performance.
