RBC Capital Markets
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The European Investment Bank printed a $1bn three year floating rate note linked to the secured overnight financing rate (Sofr) with a coupon structure that mirrors Sonia this week, as the market still tries to find a standard method for the dollar Libor replacement. -
European Investment Bank is out with a $1bn three year floating rate note linked to the secured overnight financing rate (Sofr) with a novel coupon structure, though bankers off the deal say it looks cheap.
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The US’s Occidental Petroleum has completed an $8.8bn loan and is raising a $13bn bridge to back its $57bn purchase of Anadarko Petroleum, with a bevy of lenders getting in on the action.
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Greencoat UK Wind, the UK infrastructure investment fund focused on wind farms, has completed its latest equity capital raise to finance its pipeline of investments.
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A quartet of public sector borrowers placed paper in the Australian dollar market this week. Two European SSAs priced sustainable and climate awareness bonds: the European Investment Bank priced its third climate awareness Kangaroo on Tuesday, while Bank Nederlandse Gemeenten brought its sustainability bond programme back to the Aussie market on Wednesday. Meanwhile, a pair of agencies raised funding in Australian dollars on Thursday: Export Development Canada and Eurofima both tapped Kangaroos.
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A pair of European SSAs priced sustainable and climate awareness Kangaroo bonds this week. The European Investment Bank priced its third climate awareness Kangaroo on Tuesday, while Bank Nederlandse Gemeenten brought it sustainability bond programme back to the Aussie market on Wednesday.
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Triton International, a global shipping container firm based in Bermuda, has amended and extended a $1.25bn revolving credit facility, cutting its debt cost in the process.
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Export Development Canada sold its second Sonia-linked floating rate note on Friday, which extends the issuer’s curve linked to the reference rate to 2024.
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Metro Bank completed its long awaited equity capital raise on Thursday night, providing a rare bit of good news to UK bankers and investors despondent over a tortuous Brexit process.
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Japan Bank of International Co-operation and the Municipal Finance Authority of British Columbia gave investors more ways to invest their stacks of dollars on Thursday, though syndicate bankers say the pent up demand for bonds in the currency is still far from satiated.
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Berry Global, the US plastic packaging maker, will raise bonds to finance its purchase of UK plastics maker RPC Group, it said on Wednesday. The debt raising will feature $3bn of senior secured notes in two tranches. This marks the end of leveraged finance bankers' hopes that the auction of RPC would deliver substantial new money supply to the European market.
