RBC Capital Markets
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Australia’s Perth Airport has abandoned its attempt to issue its first sterling bond, after investors demanded more spread for its sub-benchmark size than the company was willing to pay. -
National Australia Bank is out with a five year floating rate senior deal, following on recently rediscovered demand for such paper last week, when a handful of deals were successfully placed either privately or on the public market with investors.
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IT outsourcing business iGate is seeking to raise $325m of senior unsecured notes. The deal is being run from the US but is also being marketed to European investors.
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Verizon Communications brought back memories of its $49bn record-breaking bond in September with a $4.5bn offering this week that sucked in nearly $23bn of orders.
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A trio of rare dollar issuers took to the short end of the curve this week, supplying investors at a point that has been starved of new deals this year. The Kingdom of Denmark drew the strongest response, beating out even the Bank of England in terms of demand and pricing at the same level.
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If there was ever any doubt as to the identity of the funkiest cat in the MTN scene it was firmly dispelled this week as Peter Flanagan at RBC Capital Market confirmed that — in the words of Prince — he wants to party like it’s 1999.
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Nigerian oil and gas firm Seplat launched an IPO of more than $500m on Tuesday, the biggest exploration and production flotation since the financial crisis and the first firm with a dual listing in London and Lagos.
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Syndicate bankers are primed for a busy period in dollars next week following the smooth execution of four benchmarks in the currency this week despite uncertainty and volatility caused by the situation in Ukraine.
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Relations between the US and Russia reached their worst pitch of tension for 25 years this week – yet for the corporate bond market, blue sky stretched to the horizon.
