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A European bank could breach a new frontier in the market for bank capital securities as soon as next month, according to two sources with knowledge of the deal. An issuer is preparing a convertible bond in an additional tier one host — a bond which converts to equity on the upside and the downside. -
Two first time bond issuers joined the corporate pipeline this week, with TDF Infrastructure and the University of Liverpool preparing to debut, despite a choppy primary market.
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Euro high yield investors on Thursday had more than €1.8bn of bonds to consider and two more tranches in euros whose final sizes were yet to be set — New Look, the UK fashion retailer, being at the forefront with the largest offering.
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A deputy head of funding at a supranational issuer is set to take up a new position at a sovereign debt management office.
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Gabon launched a 10 year $500m note this week, bolstering African issuance volumes that were already at a record high.
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Londoners have had a few days of sunshine and tropical temperatures to bask in over the past week, but it may as well have been snowing compared to what one MTN don has had to endure this month.
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Macro themes are dominating fixed income markets, but investors shouldn’t lose sight of the idiosyncratic stories that are unfolding in the background.
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Europe's investment grade corporate bond pipeline swelled even more on Thursday, though the primary market stayed silent, as HJ Heinz announced a roadshow to prepare funding for its merger with Kraft.
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Metsa Fibre, the Finnish pulp producer, has signed €1.2bn of loans including €750m that will be used to build a wood-fired energy mill.
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National Bank of Egypt has launched a $390m loan, entering syndication at the same time as it has mandated banks for a dollar bond.
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Heads of MENA DCM in Dubai have told GlobalCapital that regional corporate bond fees have been crunched over the last year, and expressed concern as to how this is affecting the quality of execution in the region.
