Nomura

K’s Holding, the consumer electronics retailer, launched and priced a ¥30bn ($260m) 2019 convertible bond Thursday, just two days after fellow Japanese issuer Oita Bank completed a $100m convertible bond with the same maturity.

K’s Holding, the consumer electronics retailer, launched and priced a ¥30bn ($260m) 2019 convertible bond today, just two days after fellow Japanese issuer Oita Bank completed a $100m convertible bond with the same maturity.

International Finance Corporation is set to close a tap of an April 2025 Kangaroo, its longest dated line in Australian dollars. The deal comes shortly after World Bank tapped its longest dated Kauri bond.

Shionogi, the Japanese pharmaceutical company, took advantage of its share price reaching an all time high on Monday to launch a ¥20bn ($169.9m) convertible bond, to finance a share buyback.

Supportive secondary markets and tightening credit indices have deceived issuers of senior and covered bonds in the FIG market, causing five to pull the plug on new transactions over the span of five trading days. That left market participants wondering if the year is over for FIG issuance, as investors happy with returns on the year have avoided taking on further risk — despite issuers offering spreads that have previously led to successful deals, writes Nathan Collins.

Onex, the Canadian private equity firm, has acquired SIG Combibloc, the Swiss drinks carton maker, for €3.75bn and confirmed 10 banks that will arrange the leveraged buyout.

Nomura became the fourth financial credit to postpone the sale of senior unsecured debt in less than a week on Tuesday, calling time on a self-led five year sterling print during the bookbuilding process.

Onex, the Canadian private equity firm, has acquired SIG Combibloc, the Swiss drinks carton maker, for €3.75bn and confirmed 10 banks that will arrange the leveraged buyout.

Nomura was the sole financial credit to look at the primary market on Tuesday, making a rare appearance in sterling to sell a five year deal. Attractive arbitrage options could lead other issuers to look at sterling later in the week, according to some FIG syndicate managers.

Three issuers from France, Belgium and Germany raised €2.5bn in the covered bond market this week, and another €1bn transaction was expected from a Finnish issuer on Friday. The deals were all remarkable for the fact that the funding levels set new records for all issuers as the ECB’s allocation continued to grow, squeezing out other investors.

After a lengthy absence from sterling, Instituto de Crédito Oficial is keen to reestablish itself as a permanent name in the currency. The Spanish agency sold its first new issue in the sterling bond market in five years this week, while Finland came soon after with a five year.

Turbulence hit a subordinated debt market that seemed to be about to hit its stride this week, as deals from Deutsche Bank and Erste Group slumped in the secondary market straight after sale.