Wells Fargo Securities
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Lloyds, Dexia Crédit Local and Wells Fargo have all sought dollar funding this week, turning away from a bare European market to take advantage of a brighter tone in the US after bank results. -
The dollar has been left as the only accessible currency for European banks looking to print benchmark debt so far this week, as even covered bonds succumb to a global market rout.
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The GlobalCapital editorial team has picked what it believes to be the standout bond issues of 2015 across the corporate, public sector, financial institution and emerging market bond markets. Below are the Corporate Deals of the Year 2015. We selected the trades that we think will be remembered for their success in challenging conditions, for making the best use of the demand available to them, or for having made a longer lasting impact, such as the re-opening of a market. The winners are presented here.
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Kuwait’s Burgan Bank is wrapping up a year of busy financing activity from Middle Eastern banks. It completed a $350m loan on Wednesday, increased from $300m.
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Qatar's Doha Bank signed a $575m two year loan on Thursday, increasing the deal from the launch size of $500m.
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Goodyear Dunlop Tires, the US tyre maker, issued €250m of eight year senior notes on Wednesday. The notes are rated Ba1/BB, with a coupon of 3.750% and non-call protection of three years.
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Goodyear Dunlop Tires, the US tyre manufacturer, is issuing €250m of eight year senior unsecured notes. A roadshow is scheduled for Wednesday in London.
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A trio of Wall Street’s biggest banks led a dash for dollars this week as a positive market backdrop drew a flood of issuance ahead of the year-end slowdown.
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Doha Bank is syndicating a $500m two year loan and commitments are due in mid-December. But at least three bankers have told GlobalCapital that they think the pricing is tight.
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Turkey’s Garanti Bank and Finansbank have signed one year loans, completing the second round of refinancings for Turkey’s large commercial banks.
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Avago Technologies, the US semiconductor components maker, has increased the €500m tranche of its term loan ‘B’ to €900m on strong demand, in another sign of the European leveraged loan market’s competitiveness.
