Nomura
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UK based drinks manufacturer Diageo returned to corporate bond markets on Wednesday with a three year and long six year dual tranche offering, while German housing association Vonovia continued the recent trend for two year floating rate notes. -
World Bank will bring the latest test for a wall of dollars waiting to tumble into the SSA bond market, after mandating banks on Monday to bring a 10 year global benchmark. The trade could be the first jumbo 10 year dollar deal from an SSA in well over two years — and bankers away from the deal expect it to fly.
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A rush of consolidation has swept through Europe’s payments processing industry in the past six months and the financing for two of the deals, the acquisitions of Nets and Paysafe, hit the leveraged finance market this week.
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Anton Oilfield Services Group is making a dollar bond market comeback, offering a new deal in exchange for its existing 2018 bonds.
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HDFC Standard Life Insurance Co is set to price its IPO at the top of guidance to raise Rp86.95bn ($1.3bn), having closed books nearly five times subscribed, according to a banker on the deal.
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Guarantor: All Danish municipalities and regions
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The public sector market for euro paper is providing superb execution for those borrowers that still have needs in the currency — but those are few and far between.
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KommuneKredit and Erste Abwicklungsanstalt rounded out this week’s dollar issuance in what has become typical fashion for trades over the last few days — oversubscribed books and tightened pricing. But KommuneKredit’s deal featured a novel aspect that SSA bankers hope other issuers will embrace.
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The SSA dollar juggernaut is set to roll into a third day, with two deals on screens for Thursday’s business. Investor appetite shows no sign of letting up, as the two deals priced on Wednesday drew large books — as was seen with a host of trades a day earlier.
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Nomura has hired Omar Ghalloudi as head of developed markets trading in flow credit for EMEA. This is a new position.
