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BP, IBM get $7bn as issuers adapt to higher premiums

After a rough January in which a host of new US corporate bond issues have widened substantially from their launch spreads, borrowers are hoping for a return to stability. Led by BP and IBM this week,...

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Bank capital revived as UBS brings euros and BBVA preps AT1

UBS proved that appetite for risky, deeply subordinated bank capital instruments was impervious to the travails of emerging markets this week, raking in over €10bn of orders for its 12 year non-call...

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Cargill, Experian bonds thrive in choppy seas

Financial markets remain rough, but the corporate bond new issue market is in business. That was the message of Tuesday’s output of two deals in Europe, by Cargill in euros and Experian in sterling.

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Citi takes aim at sterling and euro sub debt

Citi is looking to buy back up to £285m equivalent of euro and sterling-denominated subordinated debt in a tender offer using a modified Dutch auction procedure.

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Stress test could splinter loss absorbing capital market

The European Banking Authority’s decision to set the hurdle for its upcoming stress tests at 5.5% common equity tier one could inspire an even more diverse range of structural idiosyncrasies in...

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Draghi offers no help to stagnant senior market

Those FIG syndicates that have been downbeat this week about supply prospects in a flat euro senior unsecured market took no cheer from the ECB's inaction on Thursday, but others are more optimistic...

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Deutsche smashes dollar record with $3.5bn blockbuster

Deutsche Bank highlighted its US credentials on Thursday with its biggest dollar offering on record, and its first senior unsecured benchmark trade in the currency since 2011.

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Europe's modest high yield returns could still beat US this year

After two years of stellar returns, no one in European high yield expects as good a year in 2014. But although returns may be modest, specialists still think Europe could outperform the US.

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Ceva to market â¬700m cov-lite loan in March

Ceva Santé Animale, a French veterinary health business, is looking to sell €700m of term loans with a covenant lite structure in the second half of March.

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All Bonds league tables

Dealogic league tables of bond transactions, February 19, 2014. Includes SSAs, FIG, investment grade and high-yield corporates, emerging markets and ABS.

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International bonds league tables

Dealogic league tables of bond transactions, February 19, 2014. Includes SSAs, FIG, investment grade and high-yield corporates, emerging markets and ABS.

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Goldman Sachs

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European MMFs consolidate after investors jump ship

Investors are pulling out of European money market funds leading the funds to consolidate, according to commercial paper dealers.

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Europeâs modest HY returns could beat US

After two years of stellar returns, no one in European high yield expects as good a year in 2014. But although returns may be modest, specialists still think Europe could outperform the US.

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Hopes rise of Western corporate sukuk, banks wish for GE, Total

The likelihood of Western companies issuing sukuk this year is growing, say bankers, as Islamic investors’ perceptions of Western issuers improves, more conventional asset managers allocate to sukuk,...

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Novartis finds US bond bid strong but tricky

The US investment grade corporate bond market sprang back to life this week as four big issuers hit the market in quick succession on Thursday, after multi-billion dollar deals from Novartis and...

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Canada five year to encourage further sovereign issuance

Sovereign issuers should take heart from the scale of demand for Canada’s tightly priced return to the dollar market, say DCM bankers. The country sold a tightly priced dollar benchmark on Thursday,...

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Swiss triple-B drought drives tight Goldman trade

A lack of triple-B rated deals in Swiss francs this year created an opportunity for Goldman Sachs this week. A new long five year from the US investment bank saw strong demand despite being priced flat...

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Swedbank takes fives in dollars

Swedbank came to the dollar market for the first time in nearly a year with a $1bn five year 144a offering of senior level bank notes on Thursday.

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More deals to follow World Bank Kauri

More SSA issuers could look to the Kauri market after a World Bank deal this week drew strong demand from international investors and more than doubled in size.

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