North America

China Resources Land bagged Rmb4bn ($635.7m) from a two tranche Panda bond on Wednesday, marking its fifth outing in the market. But the issuer had to change tack at the last minute after investor demand built up for the longer-dated note.

General Mills put the investment grade corporate dollar market back on a more positive course this week with a tightly priced trade that paved the way for a rebound in supply.

US health products and services company PerkinElmer priced a €300m corporate bond this week, nearly two years after its debut in the currency. The deal saw good demand as the company paid a spread of 60bp over mid-swaps for the three year notes.

Private equity-owned ION Investment Group has been named as the high bidder of the two that have made last minute bids to beat Temenos in the race for UK trading technology company Fidessa.

Swiss telecoms provider Swisscomm found strong demand for its new corporate bond deal. However, investors were very clear on where they saw the value in the deal and the issuer had to pay significant spreads to ensure the deal’s success.

Mireille Dyrberg, the former COO of Nex Group fintech subsidiary TriOptima, has joined data reconciliation firm Duco.

As volatility returned to financial markets, US derivatives exchange operator CME saw record average daily volume for derivative contracts in the first quarter of 2018, beating the same period last year by 30%.

The FANGs, the catchy grouping of high growth tech disruptors, may have made sense in the past but the unique pressures being faced by each business as it matures and the economic cycle turns should lead investors to differentiate more between the technology-enabled stars of the US equities market.

Walt Disney has thrown Rupert Murdoch’s 21st Century Fox a lifeline in its battle to acquire the remaining shares of Sky it does not own by offering to buy Sky News, putting pressure on the £22.1bn debt-backed offer for the whole of Sky from rival bidder Comcast.

With Moody’s analysts predicting last week that Tesla would need a $2bn capital injection, high yield analysts have pointed to the company’s Gigafactory as a likely source of collateral, as the flagship facility was excluded from the firm’s covenant package in its last deal.

US beauty retailer Coty announced pricing at the wide end of guidance for its $2.45bn-equivalent of new leveraged loans on Thursday, while reaching the end of the roadshow for $2bn-equivalent of new high yield bonds.

Turkiye Is Bankasi (Isbank) recently signaled its intention to issue, while HSBC Canada has registered a covered bond corporate entity.