RBC Capital Markets
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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. -
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.
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BAML DCM vet leaves banking - ANZ hires Johnson - Nelson to head Africa DCM - RenCap spree continues
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Two bankers have left Bank of America Merrill Lynch’s leveraged finance team in New York to join rival banks. Neither has yet been replaced.
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Sovereign issuers should take heart from the scale of demand for Canada’s tightly priced return to the dollar market, say DCM bankers. The country sold a tightly priced dollar benchmark on Thursday, and the success of the trade could help push forward issuance from other sovereigns.
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The US investment grade corporate bond market sprang back to life this week as four big issuers hit the market in quick succession on Thursday, after multi-billion dollar deals from Novartis and Comcast earlier in the week.
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More SSA issuers could look to the Kauri market after a World Bank deal this week drew strong demand from international investors and more than doubled in size.
