Morgan Stanley
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The dollar market is providing public sector issuers with an opportunity for primary issuance as other major currencies — euros and sterling — are wracked with uncertainty.
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Reed Elsevier has issued a €600m 10 year bond through a US financing vehicle in an SEC-registered, New York-listed format, after considering issuing in either euros or dollars. -
NordLB put its debut additional tier one print on ice on Thursday morning, with a sharp sell-off in AT1 paper causing the leads to postpone the deal.
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China National Petroleum Corp (CNPC)’s subsidiary Kunlun Energy Co successfully completed its inaugural dollar offering on May 6, continuing the success of Chinese gas and oil firms in the international debt market.
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Cellnex, the Spanish telecoms tower business, is expected to start trading in Madrid on Thursday May 7, having priced its IPO on Tuesday evening at €14 a share – the top end of the range.
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Sweden priced an oversubscribed $2.25bn three year on Wednesday while a German state attracted strong demand to its debut in the currency.
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Kunlun Energy Company, a subsidiary of China National Petroleum Corp (CNPC), opened books to a 144A/Reg S dual tranche dollar bond split between five and 10 year deals.
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Shanghai Electric Group Company (SEC) is preparing to issue its first euro bond having mandated 10 banks for a series of investor meeting starting on May 8.
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Sweden has mandated banks to run a benchmark in dollars, taking advantage of a clear window of issuance in the currency this week because of holidays in Japan.
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The Far-Eastern Shipping Co has extended the deadline for the buyback offer for its 2018 and 2020 bonds to Friday.
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NH Hotel Group, the Spanish hotel chain, has pulled its €200m senior unsecured bond issue.
