Scotiabank
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Trinseo, a US manufacturer of plastics, latex binders and synthetic rubber, opened investor calls on Monday for a new unsecured bond, as it plans to repay all of its bonds due in 2022. -
Gilt yields dropped on Thursday after the Bank of England’s Monetary Policy Committee voted 6-2 to hold the Bank Rate at 0.25% — a higher majority than the 5-3 in favour of holding at its last meeting in June. The more dovish result came after weeks of hawkish noises emanating from the central bank. Meanwhile, the Province of Alberta returned to the sterling market to tap its debut issue from earlier this year.
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The Province of Alberta has returned to the sterling market, following its debut in the currency in February.
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The Province of Alberta on Wednesday passed its first bond market test since suffering a double downgrade from S&P in May. Bankers away from the trade said it was a “good outcome”, despite having to pay a bit of concession — unlike most other dollar deals over the last few weeks.
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Sweden on Tuesday printed a dollar benchmark at one of the tightest spreads to mid-swaps from a public sector issuer this year, as a Canadian province prepared to bring a deal in the currency further out the curve.
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Peru’s efforts to make its domestic bond curve Euroclearable appeared to pay dividends on Monday after 70% of demand for its first deal in the format came from non-Latin American investors.
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Peru will begin meeting fixed income investors on Tuesday in preparation for a benchmark-sized Peruvian sol-denominated bond of “intermediate to long maturity”, according to a note sent to investors.
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Cyprus, entering an otherwise quiet market, has picked banks for a seven year euro benchmark to be sold on Tuesday.
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New deals marketed this week by US borrowers Owens-Illinois and Federal-Mogul pushed reverse Yankee issuance to 25% of the €22bn of euro high yield issuance so far in 2017.
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