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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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The UK Debt Management Office announced plans this week to raise the biggest volume of Gilts in a single calendar month as it prepares for a significant increase to its financing programme from government’s measures to support the economy through the coronavirus outbreak. -
China’s State Council has unveiled details on yet another stimulus package to support its economy, including more local government bonds, lower interest for loans and a potential cut in the reserve requirement ratio for smaller banks.
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The Bank of England threatened to use its ‘supervisory powers’ on UK banks if they did not agree to suspend dividend distributions this year and stop paying cash bonuses to staff. The instructions do not apply to the equity-like CCDS instruments issued by building societies.
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WuXi Biologics Holdings has pocketed HK$4.6bn ($599m) after selling part of its stake in subsidiary WuXi Biologics (Cayman).
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Indian debt issuers are starting to feel the impact of the Covid-19 pandemic, which has forced a country-wide lockdown for three weeks. With dollar bonds slumping in the secondary market and downgrades coming fast, the outlook for borrowers is bleak.
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Emerging market bonds are trying to catch the same bid that has gripped investment grade markets, particularly in the US. Now, Latin America borrowers are scavenging once more for chances to print new issues.
