Abhinav Ramnarayan' s stories
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Ziggo abandons European IPO model
Dutch cable operator Ziggo is set to abandon the four-week IPO process that has long been standard in Europe and instead opt for an accelerated – and far smaller – deal using the US model in an effort to ensure success when it launches next month. The change is a reaction to last year, when 27 major corporate IPOs – worth up to US$27bn – were cancelled in Europe.
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Yellen nomination lifts emerging market debt
Emerging credit markets have perked up on news that US President Barack Obama will nominate Janet Yellen to head the US Federal Reserve after Ben Bernanke’s term completes this year.
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World Bank uses pincer movement
The World Bank last week hedged its bets by including a short-dated tranche along with a more adventurous seven-year on its return to the US dollar benchmark market, and as a consequence was able to achieve size on one and duration on the other.
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World Bank surprises with long euro trade
The World Bank (IBRD) on Thursday raised eyebrows by coming to the euro market at a time when many Europe-based SSA issuers are shunning the single currency and looking to issue in US dollars instead.
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World Bank surprises with long euro
The World Bank (IBRD) on Thursday raised eyebrows by coming to the euro market at a time when many Europe-based SSA issuers are shunning the single currency and looking to issue in US dollars instead.
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World Bank could restart SSA primary market
The World Bank could reopen the public sector market as soon as next week despite the Brexit uncertainties raging through the market, two public sector debt bankers said.
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Wave of cash hits distorted rates market
The sovereign, supranational and agency market is expected to be flooded with several billion euros of additional buying interest in April, potentially introducing further severe distortions and making the primary market difficult to navigate.
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Warsaw looks abroad as domestic IPOs run out of steam
Poland has begun to woo companies in central and eastern Europe as it seeks to get ambitions for its equity capital markets industry back on track, after momentum in the first half of the year subsequently ran out of steam.
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Volkswagen gears up for bond market return
Volkswagen may sell its first public unsecured deal for a year as early as the end of August, according to four bankers who cover corporate bonds. The deal would be the company’s first such transaction since the emissions scandal in September 2015.
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Vodafone goes long twice in a week
Vodafone’s penchant for long-dated debt was on display last week, with the UK telecoms firm starting the week with a £800m 33-year benchmark trade and ending it with a £1bn 40-year bond, the two deals coming either side of a Bank of England announcement on corporate bond purchases.
