North America
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The European high yield bond market returned from its summer break to €3bn of new bond offerings this week, including notes from Delaware’s Kronos International and California’s Equinix. -
Sean Weissenberger has moved to Citi to run EMEA chemicals investment banking.
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The European high yield bond market has suffered two years of falling primary issuance but a busy September will provide the impetus for a return to growth. However, there are also concerns about weakening investor protection.
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Chinese logistics firm Best hit the road on Thursday to start drumming up demand for its $931.5m IPO of American depositary shares (ADS).
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Trump’s first Democrat pick for commissioner at the Commodity Futures Trading Commission (CFTC), Rostin Behnam, was sworn in on Wednesday. He joins Brian Quintenz, who participated in the ceremony three weeks ago.
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Stanley Fischer has resigned as second in command at the US Federal Reserve, leaving four of the seven seats on the Fed governors' board vacant.
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Oleg Melentyev has joined Bank of America Merrill Lynch as head of leveraged finance strategy in New York, after four years in the same position at Deutsche Bank.
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Intercontinental Exchange (ICE) on Wednesday announced a spate of changes to its senior management, all due to be enacted in October, including the replacement of veteran president of ICE Futures Europe David Peniket with Stuart Williams.
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US private equity firm Carlyle agreed to buy Prima Solutions on Wednesday, deploying its Europe-focused technology fund to so. European market participants say this could be the start of US sponsors growing more active in Europe.
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Red chip property developer Joy City has hit the Panda bond market for the first time, raising Rmb1bn ($153.1m) from a three year bond on September 5. Although the deal was small in size, it caught the attention of some Bond Connect investors thanks to the issuer’s reputation.
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Two more borrowers added on Tuesday to the almost €3bn of new high yield bonds already being marketed in Europe this week. But just as the market is set to surpass last year's volumes, investors have started to voice concern over low coupon levels.
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The European high yield bond market returned from its summer break to €2.8bn of new bond offerings this week, including a sub-benchmark sized note from Delaware’s Kronos International on Monday.
