Wells Fargo Securities
-
The European Bank for Reconstruction and Development ventured out to raise its largest ever bond linked to the secured overnight financing rate (Sofr) this week in what otherwise a thin week for issuance in dollars. -
A record month for US mergers and acquisitions will fail to boost the dollar corporate bond market, as bankers predict a sharp slowdown in activity in the fourth quarter.
-
InterContinental Hotels (IHG), the UK hotel group, sold sterling and euro debt on Thursday without paying a concession, as market technicals and the potential for a substantial coupon increase proved enough to sweep away investors’ concerns about the sector.
-
The UK’s InterContinental Hotels and Italian airport Società Esercizi Aeroportuali have mandated for bond issues, giving investors another attempt to pick up some potentially higher yielding debt than has been on offer recently.
-
Bank of America and Toronto Dominion tapped into investor demand for bonds linked to environmental, societal and governance (ESG) projects this week.
-
The frenetic pace of the high-grade dollar bond market slowed on Thursday as investors showed signs of indigestion.
-
Delta Air Lines raised $6bn this week, joining the September stampede by companies to plug their bank accounts and lock in cheap funding.
-
UniCredit sold a $1bn non-preferred senior bond in the dollar market this week, as it made further headway on its total loss-absorbing capacity (TLAC) plans for next year.
-
The New Development Bank has appointed the syndicate to lead its second dollar benchmark, the proceeds of which will fund its coronavirus response.
-
AIA Group has issued a $1.75bn subordinated bond, which will be the first to qualify as tier two capital under a new regulatory framework in the works in Hong Kong. Alice Huang reports.
-
SSA borrowers, and supranationals in particular, have long aspired to break into the vast pool of domestic US investors. Thanks to a long-dated floater linked to Sofr, the World Bank has found a new means of accessing these investors.
-
