Santander
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Pent-up demand for additional tier one debt should ensure a warm reception next week for planned deals from Santander and Danske Bank. Both banks are planning to sell euro-denominated AT1 debt after roadshowing their deals early next week, and investors are primed to gobble the paper down. -
A strong US investment grade market is a sign to top-rated Latin American corporates that they can reopen bond issuance, say senior LatAm bankers.
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BP continued a busy month of bond issuance today with a €2bn issue, which echoed in scale the €2.5bn dual trancher it sold in February 2012.
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Multi-billion euro tobacco bonds are rare, but this week has produced two in as many days. They nearly came on the same day, but Imperial Tobacco decided discretion was the better part of valour yesterday when Philip Morris International got into the market ahead of it, before 8am London time.
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Banco Santander Chile will buy back Ps118.409bn ($219m) of its global peso bonds due 2020 after bondholders agreed to tender at par 80% of the Ps148.838bn outstanding.
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The Brazil sovereign has mandated for fixed income investor meetings, having seen Odebrecht Oil & Gas (OOG) re-open the LatAm dollar bond market in emphatic style on Thursday. The Odebrecht deal broke a new issue drought from the region that had lasted since January 31.
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Brazil’s Odebrecht Oil & Gas this week roused the LatAm dollar bond market from a new issue lull that lasted nearly three weeks.
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Private placements from peripheral European financial institutions will dominate the market in the coming weeks as investors hunt for yield, according to MTN dealers. These banks could steal the spotlight from Nordic financial institutions, which have dominated the market this week.
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Private placements from peripheral European financial institutions will dominate the market in the coming weeks as investors hunt for yield, according to MTN dealers. These banks could steal the spotlight from Nordic financial institutions, which have dominated the market this week.
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A lack of issuers, not a lack of demand, is keeping Latin American debt capital market activity quiet as the region looks set for its second consecutive week without issuance.
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French industrial tube maker Vallourec has signed a €1.1bn five plus one plus one revolving credit facility from 19 banks. The deal could be a precursor to many more amend and extend exercises this year.
