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Monday evening sale is latest block trade
◆ Danish biotech prints three tranches along the curve ◆ Seven year bond proves the sweet spot ◆ Proceeds to refinance €1.5bn acquisition bridge
Sfr4.9bn trade is largest European ECM deal since National Grid’s £7bn rights issue in 2024
Offer came as markets recovered and volatility fell
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Royal Bank of Canada on Wednesday became the fourth Canadian bank to issue an Australian dollar covered bond in April, pricing considerably tighter than its compatriots and in the largest size yet. The success the Canadians have enjoyed in Kangaroos is in stark contrast to a sterile sterling market.
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AMAG Leasing, a regular issuer in the small Swiss franc ABS market, pulled its planned Swiss Car ABS 2020-1 deal on Tuesday after investors declined to support the deal at a level the company found attractive. It had recently renewed its bank facility, and is also a regular issuer in the unsecured Swiss franc bond market.
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French president Emmanuel Macron may have extended the country’s Covid-19 lockdown until May 11 but equity bankers took hope from his address to the country this week.
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The Italian Treasury has updated the guidelines for its debt management strategy for 2020 as it comes to terms with additional financing needs from Covid-19. There are plans for more syndications, bigger auctions and more products for retail investors.
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Chinese conglomerate HNA Group called an eleventh-hour meeting this week in an attempt to delay a bond that was due to mature just hours later. Investors criticised the company on the call ─ but bankers are still unsure whether the bond has been repaid.
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The Carlyle Group has raised Rp7.6bn ($100m) after selling most of its stake in Indian diagnostic laboratory chain Metropolis Healthcare, according to a source close to the deal.