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,...
View ArticleBank 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 â¬10bn of orders for its 12 year non-call...
View ArticleCargill, 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 Tuesdayâs output of two deals in Europe, by Cargill in euros and Experian in sterling.
View ArticleCiti 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.
View ArticleStress test could splinter loss absorbing capital market
The European Banking Authorityâs 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...
View ArticleDraghi 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...
View ArticleDeutsche 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.
View ArticleEurope'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.
View ArticleCeva to market â¬700m cov-lite loan in March
Ceva Santé Animale, a French veterinary health business, is looking to sell â¬700m of term loans with a covenant lite structure in the second half of March.
View ArticleAll 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.
View ArticleInternational 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.
View ArticleEuropean 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.
View ArticleEuropeâs 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.
View ArticleHopes 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 investorsâ perceptions of Western issuers improves, more conventional asset managers allocate to sukuk,...
View ArticleNovartis 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...
View ArticleCanada five year to encourage further sovereign issuance
Sovereign issuers should take heart from the scale of demand for Canadaâs tightly priced return to the dollar market, say DCM bankers. The country sold a tightly priced dollar benchmark on Thursday,...
View ArticleSwiss 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...
View ArticleSwedbank 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.
View ArticleMore 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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