North America
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Sharon Bowen, commissioner at the Commodity Futures Trading Commission (CFTC), on Tuesday announced she would be stepping down from her role, while communicating her frustration at the Trump administration’s failure to confirm new candidates. -
Nodal Exchange, the US energy and derivatives exchange, has introduced new power options, rolling out 12 contracts covering energy futures from seven regional US hubs.
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Danaher Corp, the US healthcare technology group, issued a €850m dual tranche bond on Monday. The latest Reverse Yankee issuer found strong demand for both tranches, resulting in minimal new issue concessions.
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As temperatures across Europe hit new highs for the year, primary issuance is also hotting up in its corporate bond market. Borrowers led the charge on Monday with three well received deals totalling five tranches.
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Amazon is using a rating-sensitive bridge facility for its $13.7bn acquisition of Whole Foods, in the US loan market’s second largest transaction of 2017.
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Brighthouse Financial became the first dollar issuer to come out of the blocks following the Federal Reserve’s decision to raise rates on June 14.
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Remarkably supportive conditions in the euro market allowed some rare SSA names to pull off strong deals this week, including a debut in the currency and a return from a two year hiatus.
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Apple was ripe for the picking this week as investors gobbled up its second green bond offering. But dollar bond supply was otherwise subdued as issuers tip-toed around the two-day meeting of the Federal Open Market Committee (FOMC).
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US telecoms company AT&T returned to European markets on Wednesday with a £1bn September 2037 bond, as it followed up a €7bn multi-tranche deal it sold just a week earlier.
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Public sector borrowers could bring deals in euros and dollars next week, said SSA bankers, although supply is likely to be fairly muted with many funding officials descending on London for the annual Euromoney Global Borrowers conference.
