Wells Fargo Securities
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UnitedHealth Group rescued an otherwise lacklustre week for high grade dollar bond issuance with a $4bn deal as earnings blackouts kept a lid on supply. -
Panamanian commercial lender Banco General is distributing a $500m loan into the Asian market, the second time it has tapped bank liquidity in the region.
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Northrop Grumman and Wal-Mart printed the biggest deals in their history as event-driven dollar bond supply roared back to life following the Columbus Day holiday.
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Iron Mountain, Bormioli and Constellium revved up the engines of the European high yield market with new deals announced on Tuesday that pushed overall issuance so far this year closer to 2014’s all-time €84bn high.
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Dollar borrowers failed to take advantage of pent-up demand and tightening spreads as US corporate bond supply recorded a lacklustre end to the month.
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Investors bought into attractive yields from triple-B rated issuers that jumped into the US corporate bond market ahead of the Fed’s well flagged announcement that it would reverse quantitative easing.
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A hundred investors managing $1.8tr of assets have signed a letter calling on banks to say more about how they are managing the risk of climate change, and to publish a strategy saying how they support the goals of the Paris Agreement.
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Investors scrambled for yield in the dollar bond market this week as Concho Resources printed its debut investment grade offering amid nearly $19bn of other corporate offerings.
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US chicken processor Pilgrim’s Pride Corp plans to fund its £1bn buyout of UK peer Moy Park with cash in hand, an extension of its term loans, and a new debt issue to repay a JBS subordinated note.
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A full €2.3bn of bond offerings from seven borrowers hit screens on Monday in the European high yield bond market, following last week's more than €3bn of new bonds despite fund inflows turning negative.
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The dollar high grade bond market returned to barnstorming form this week following the summer break with a Who’s Who of corporate America tapping the market.
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The European high yield bond market returned from its summer break to €3bn of new bond offerings this week, including notes from Delaware’s Kronos International and California’s Equinix.
