UK
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Barclays has this evening executed a R13bn ($900m) accelerated bookbuild in shares of Barclays Africa Group, its separately listed South African subsidiary, as the first stage in its already announced plan to divest the bank. The trade was covered in 35 minutes and multiple times oversubscribed.
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A managing director of loans execution will leave Barclays in London at the end of May. -
Goldman Sachs has relocated one of its most senior M&A bankers from Hong Kong to London, according to an internal memo seen by GlobalCapital Asia.
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Latin American development bank Corporación Andina de Fomento (CAF) is expected to rake in a substantial order book for its first dollar benchmark in over a year, according to bankers close to the deal.
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Chemicals producer Inovyn on Tuesday began the roadshow for a €300m secured bond that will replace a portion of term loan ‘B’ funding being issued to support its full takeover by Ineos.
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UK budget hotel chain Travelodge Hotels on Friday priced the first sterling high yield corporate bond of the year, with pricing widened by the imminent EU referendum in the UK.
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In this round-up, London overtakes Singapore as an RMB hub, foreign ownership of onshore RMB assets picks up, QDII products see further growth, and the US and China plan June economic meeting. Plus, a recap of our top stories this week.
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The number of offshore RMB hubs has risen rapidly in the last few years to hit 20 last year. But having more offshore hubs does not necessarily equates to more global usage of the currency, say market observers who are hoping China will adopt a new strategy.
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The sterling bond market gave a defiant reminder of its capacity for corporate paper this week, blowing away the memories of a so far underwhelming year that has been dominated by Brexit fears and undersupply. Ross Lancaster reports.
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The UK’s Debt Management Office highlighted that the demand for ultra long end Gilt issuance remains as strong as ever, selling a £4.75bn 50 year tap via syndication from a final book size of £21bn.
