United States
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The syndicated loan market may again be asked to underwrite a potentially record-breaking takeover loan, as Kraft Heinz has begun a pursuit of Unilever, including a large cash offer. -
Novartis made its first trip to the dollar market since 2015 as it took home $3bn this week amid a clamour for high grade paper and an increasing likelihood of a Federal Reserve interest rate rise coming as early as next month.
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A trio of Wall Street titans topped up their funding needs this week, taking advantage of favourable funding conditions as they continued their run of issuance to meet upcoming capital requirements.
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Investment houses BlueBay in London and Brandywine in Philadelphia have joined this week a recent spate of high yield portfolio managers growing new funds beyond a specific regional focus.
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The corporate bond market started the week on the front foot with a triple tranche reverse Yankee from US pharmaceuticals company McKesson that is expected to pave the way for similar issuance.
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BC Partners has hired the former president and chief investment officer of Apollo Investment Corp to head its own newly opened credit platform.
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US banks returned to the dollar market with quick-fire trades, exploiting tightening in spreads on hopes that US president Donald Trump will loosen regulation in the sector.
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The dollar high grade market slowed to a subdued pace this week following the bonanza of the previous one as corporates with funding needs lined up their documentation after reporting earnings.
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Sidera Funds has launched a new investment sub-fund that tracks euro and US high yield indices from Bank of America Merrill Lynch, but goes beyond geographies and currencies.
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Wells Fargo has named a new regional president for Asia Pacific, promoting Jafar Amin.
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Silgan Holdings, a maker of consumer goods packaging in the US, this week priced the first cross-border high yield deal of 2017 as it plans to repay term loans.
