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The Inter-American Development Bank is the latest issuer to enter a red hot dollar market, after KommuneKredit and the Asian Development Bank raised money on Wednesday. -
The sterling market enjoyed a second record breaking day in a row on Wednesday as FMS Wertmanagement printed its largest ever deal in the currency — and sterling investors were impatient for an upcoming World Bank deal.
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The US corporate bond market had a fine Tuesday in its first week back from Christmas holidays, printing five deals totalling $8.775bn. However, momentum proved short-lived as volatility brought issuance to a shuddering halt.
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The World Bank printed a five year Kangaroo note on Wednesday to kick off the Australian dollar market for the year, which could be set for a bumper couple of months.
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The European Stability Mechanism is seeking ideas for a bond issue next week, as the euro market burst back into life following a holiday across much of Europe on Wednesday.
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A member of Mizuho International’s bond syndicate team has left the firm.
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Commodities trader Trafigura will next week launch its refinancing of a $5.3bn facility, with Glencore expected to follow shortly thereafter. Bankers believe these issuers will retain support from key lenders, despite their mixed successes in 2015.
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LGC Group, the UK life sciences company, will hold a bank meeting on January 13 for £500m of debt to finance its sale by Bridgepoint to KKR.
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Sharjah has become the first CEEMEA issuer to brave the bond markets this year, mandating six banks for a Reg S-only dollar sukuk roadshow and defying sceptics who said earlier this week that Middle East issuance would be postponed as geopolitical tensions in the region escalated.
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A $275m five year loan for US-based private equity firms General Atlantic and Warburg Pincus received “massive oversubscription” from a small group of Middle Eastern banks hungry for yield as their cost of funding rises, according to a banker on the deal.
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Oil trader Vitol is syndicating a $3bn loan with a margin of 185bp and should complete the deal by the end of the month, according to a banker involved.
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Westpac NZ launched a sterling senior bond on Wednesday and Santander UK will soon follow with a debut holdco deal, as FIG's first signs of life in 2016 favour the UK market.
