North America
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The Province of Alberta's first ever sterling bond exceeded the "wildest expectations" of leads and onlookers. The deal demonstrated the strength of the sterling market and is likely to encourage the issuer's peers to follow suit. -
Novartis made its first trip to the dollar market since 2015 as it took home $3bn this week amid a clamour for high grade paper and an increasing likelihood of a Federal Reserve interest rate rise coming as early as next month.
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A trio of Wall Street titans topped up their funding needs this week, taking advantage of favourable funding conditions as they continued their run of issuance to meet upcoming capital requirements.
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The first ever sterling bond from the Province of Alberta arrived on Thursday, surprising onlookers and participants alike by breaking the size record for a Canadian province sterling deal. The trade's success is expected to give the issuer's peers the confidence to follow suit.
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Investment houses BlueBay in London and Brandywine in Philadelphia have joined this week a recent spate of high yield portfolio managers growing new funds beyond a specific regional focus.
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The Province of Alberta is set to make its debut in sterling on Thursday, in a move which may pave the way for its peers to follow suit.
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The corporate bond market started the week on the front foot with a triple tranche reverse Yankee from US pharmaceuticals company McKesson that is expected to pave the way for similar issuance.
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BC Partners has hired the former president and chief investment officer of Apollo Investment Corp to head its own newly opened credit platform.
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See how market participants rated Ontario's $2.5bn five year and FADE's €1bn March 2022 bond.
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US banks returned to the dollar market with quick-fire trades, exploiting tightening in spreads on hopes that US president Donald Trump will loosen regulation in the sector.
