United States

Citigroup’s first green bond issue has been a long time in coming, but the issuer was elated with the result of the €1bn deal on Wednesday, which was sold into a bond market where investors had slammed the risk pedal to the metal.

US and regional banks took advantage of strong market conditions this week, but could not stop high-grade dollar FIG supply enduring its worst start to a year since 2016.

High grade corporates are champing at the bit to access the dollar market as credit spreads continue to rally and investors continue to put money to work.

IBM returned to the euro corporate bond market for the first time since 2017 on Thursday, to sell its largest ever deal in the euro market and to push into a maturity not seen from a corporate issuer so far in 2019.

Regardless of when the US government shutdown ends, it will likely have wrought chaos on this year’s IPO market. Staff at the US Securities and Exchange Commission (SEC) have already been locked out of their offices for more than 34 days, frustrating a multitude of issuers that are waiting for the regulator to comment on their registration documentation. Sam Kerr reports.

The volume of corporate bonds with triple-B ratings, and vulnerable to downgrades into high yield, is at its highest in history. But while the US market fears the prospect of fallen angels, Europe appears to see advantages.

The prolonged US government shutdown has kept workers in the Securities and Exchange Commission (SEC) away from their desks for over 30 days frustrating a multitude of IPOs waiting for the regulator to comment on their registration documentation.

Thames Water sold roughly £220m of US private placement notes this January.

Rolls-Royce & Partners Finance (RRPF), a structured aero-engine lessor owned by GATX Corp and Rolls-Royce Holdings, has sold a $700m US private placement (PP). It’s the fourth time it has entered the market, and the second in 12 months.

GlobalCapital is pleased to announce the nominees for its 2019 Americas Derivatives awards.

Citigroup opted to use the euro market on Tuesday for its first ever green bond, tapping into what looks to be strong investor demand for three year paper.

Five high yield bond issues were launched in the US on Tuesday, and at least a couple more are expected on Wednesday and Thursday - fruit of the sharp turnround in sentiment in the past fortnight. This is lifting the spirits of bankers in London, who are finding it very hard to encourage issuers into the market.