RBC Capital Markets
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Yet another new London IPO was unveiled on Thursday, when ContourGlobal, the emerging markets-focused power generation company, said it would raise $400m to finance growth and cut debt, by selling new shares to institutional investors. -
Walt Disney joined the swell of blue chips entering the Maple market, selling C$1.25bn ($1bn) of seven year notes on Wednesday. Maple bonds, a suburb of niche currency markets for years, is becoming a hotbed for blue chips in search of diversification, writes Silas Brown.
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Export Development Canada (EDC) sold a five year sterling floater on Thursday, raising £750m with its largest deal ever in the currency and, in an unusual development for the sterling market, pulled in its spread by 2bp. The borrower paid up over its dollar curve but was, according to one of the leads, happy to do so to maintain a presence in sterling.
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The European Investment Bank (EIB) has picked two banks to run the books for its eighth sterling trade of the year.
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The Walt Disney Company is heading north for Canadian dollars, in its first public foray beyond the dollar market.
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Shares in Charter Court Financial Services, the UK challenger bank, rose 5% on their debut on Friday, after the company priced its IPO at 230p a share, the middle of the initial range.
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Northumbrian Water brought the first sterling corporate bond of the week when it announced a £300m 10 year deal on Thursday. It was almost a year to the day that it priced an identical deal.
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Public sector borrowers this week smashed through their conventional curves with green bond issues. But there was some debate over whether this marks the start of a trend or is merely the product of scorching conditions in both the euro and dollar markets.
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Two more public sector borrowers brought strong trades to finish a bumper week of dollar deals, both printing $1.5bn of short end dollar paper.
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On Thursday, Northumbrian Water brought the first sterling corporate bond of the week when it announced a £300m 10 year deal. It is almost a year to the day that it priced an identical deal.
