GLOBALCAPITAL INTERNATIONAL LIMITED, a company

incorporated in England and Wales (company number 15236213),

having its registered office at 4 Bouverie Street, London, UK, EC4Y 8AX

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Top Stories

  • Stephanie Sfakianos, BNPP’s head of sustainable capital markets, is retiring from BNP Paribas after 15 years with the bank.
  • Sirius Minerals, the London-listed miner, has won investor support in the equity financing leg of its new $2.8bn phase two project financing to fund the development of what is intended to be the largest polyhalite mine in the world in the North York Moors near Whitby.
  • The Manchester Airport Group, which owns Manchester, East Midlands and London Stansted airports, launched a £350m bond on Wednesday. In an investment grade corporate bond market that had otherwise been empty of new issues in the first half of the week, the deal was covered more than 3.5 times.
  • Saudi Telecom Company was on track to print its debut benchmark dollar Reg S/144A sukuk on Thursday, and after a week of roadshowing is leaning towards making it a 10 year bond, GlobalCapital understands.
  • Telecoms giant Altice announced a €2.8bn-equivalent dual currency high yield bond on Tuesday through Goldman Sachs. Along with the proceeds of the new notes, the group will spend €1.5bn to cut group leverage — a crucial move, as telecoms firms grapple with the high capital costs of preparing for the rollout of 5G technology.
  • Greg Guyett has shaken up the management of HSBC’s global banking division in a move aimed at streamlining coverage and boosting collaboration across divisions and products.
  • Public sector bond market participants expect Greece to return to the market next week for its third syndicated transaction of the year.
  • The head of FIG origination and syndication at NordLB has resigned and is understood to be heading for Landesbank Hessen-Thüringen (Helaba), where he will have an expanded role.
  • Yorkshire Building Society issued the most popular euro covered bond of any UK bank ever on Tuesday. Scant UK supply, a popular choice of tenor and a rare double digit premium over mid-swaps, amid negative yields, were key in driving demand.
  • The arrangers of Reliance Industries’ debut Schuldschein have sent investors a statement saying that though the oversubscribed order books closed on Monday, they have extended the timetable for settlement to allow some investors “additional time to firm up their orders”.
  • Andrew Cross, deputy treasurer of the International Finance Corp, is set to join the Asian Infrastructure Investment Bank, GlobalCapital understands.
  • Tottenham Hotspur, the north London football club, is considering selling US private placements to partly pay off bank loans generated by the construction of its new stadium, several market participants have said. Unlike their US equivalents in the NBA and NFL, professional clubs from the UK are a rarity in the market, as the threat of relegation makes them too perilous an investment to some investors. Silas Brown reports.