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Offer came as markets recovered and volatility fell
Abbott Laboratories plundered $20bn as it led a trio of drug companies which printed jumbo bonds as a deluge of supply in the dollar market ensured a red-hot end to the month.
Eight banks provided loan facility to company
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Qatar National Bank issued its third bond of the year on Tuesday, pulling in $3.5bn of orders by the time it released guidance for a five year deal that affirmed the market access for the top tier names in emerging markets. -
A strong and growing deposit base, an active private placement market and sizeable proportion of prefunding has put the Pfandbrief banks in a strong liquidity position, the chief executive officer of the Association of German Pfandbrief Banks (VDP), Jens Tolckmitt, told GlobalCapital in an interview on Tuesday covering a wide range of other topics such as real estate values, the mortgage lending value and Basel III’s output floor.
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Germany's Federal Constitutional Court ruled on Tuesday that, while it was not illegal for the Bundesbank to participate in the the European Central Bank’s Public Sector Purchase Programme, the country's central bank may not participate in it unless the ECB can provide a thorough impact assessment. The decision rejected an earlier verdict by the Court of Justice of the European Union.
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Robert Bosch launched Schuldscheine with tenors varying between two and 20 years on Tuesday. The German car parts supplier is looking to raise at least €500m in a market all but shut since the coronavirus pandemic reached Europe. Participants hope this launch will prompt other borrowers to follow suit.
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A bevy of high grade corporate bonds hit screens on Tuesday, as Europe’s syndicate bankers said that “no one cares” about the German Constitutional Court verdict throwing into question the Bundesbank's ability to take part in the eurozone's quantitative easing.
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Pandora, the Danish jewellery manufacturer, has raised Dkr1.8bn ($176m) through an accelerated placing of 8m treasury shares on Tuesday, to give it funds to withstand the damage to its business caused by the coronavirus pandemic. The company had recently repurchased the shares used in the placing through a buy-back scheme.
