Search results for

Citizen Watch became the latest Japanese issuer to tap into the strong demand for Japanese convertible bonds from international investors. The company sold ¥20bn of convertible bonds plus a ¥3bn greenshoe. The transaction was issued in Euromarket format alongside a private placement to as many as 49 Japanese investors.

The Royal Bank of Scotland will launch £135m of debt facilities into syndication today (Friday). The funds will help back the £150m ABN Amro Private Equity buy-out of UK-based ferry company, Commodore Group. Some £100m of senior debt is divided into a £64m seven year term loan 'A' paying 225bp over Libor, an £18m term loan 'B', a £18m term loan 'C' offering 325bp over Libor and a £15m revolver which pays 225bp. There is a £20m mezzanine layer.

Rating: A2/A Amount: £150m

Amount: ¥1.27tr private Euroyen issue Legal maturity: September 30, 2005

Merrill Lynch said on Wednesday that it had fired two senior bankers after they refused to testify in the Enron investigation launched by the SEC and Department of Justice. Tom Davis, who was once a contender to replace David Komansky as chief executive of the bank and Schuyler Tilney, head of energy investment banking, refused to testify over transactions initiated by Enron in 1999.

The Development Bank of Kazakhstan (DBK) is in a prime position to benefit from Kazakhstan's elevation to investment grade status, as it kicks off the roadshow for its debut international bond issue in Almaty today (Friday). Moody Investor's Service yesterday awarded the central Asian sovereign a double notch upgrade, raising it to Baa3 from Ba2. This makes Kazakhstan the first CIS economy to achieve investment grade status.

Deutsche Post this week sent the corporate market the strongest signal yet that investors are ready to put the liquidity they have built up over the turbulent summer months to work, by launching a blowout Eu1.5bn deal that was increased from Eu1bn. Split into five and 10 year tranches of Eu750m to accommodate the Eu6bn-plus of demand that the company and leads Credit Suisse First Boston, Deutsche Bank and Morgan Stanley had attracted during premarketing, the deal was priced inside early expectations and yet tightened in the aftermarket.

Guarantor: Deutsche Post AG Rating: Aa3/A+/AA-

Guarantor: Deutsche Telekom AG Rating: Baa1/BBB+/BBB+

Deutsche Post this week sent the corporate market the strongest signal yet that investors are ready to put the liquidity they have built up over the turbulent summer months to work, by launching a blowout Eu1.5bn deal that was increased from Eu1bn. Split into five and 10 year tranches of Eu750m to accommodate the Eu6bn-plus of demand that the company and leads Credit Suisse First Boston, Deutsche Bank and Morgan Stanley had attracted during premarketing, the deal was priced inside early expectations and yet tightened in the aftermarket.

Guarantor: Deutsche Telekom AG Rating: Baa1/BBB+/BBB+

JP Morgan CEO Bill Harrison is under pressure after poor third quarter interim results caused the bank's share price to plummet and led to ratings downgrades from Fitch and Standard & Poor's (S&P) after close on Tuesday. JP Morgan's 2007 and 2012 bonds widened 12bp on Wednesday.