Wednesday, August 31, 2016

Pirelli's main UK pension schemes agree 600 mln stg longevity deals

LONDON, Aug 31 (Reuters) - The two main UK pension funds of

tyremaker Pirelli have agreed deals with insurer

Zurich to farm out 600 million pounds ($785.94

million) of risk that members of the company schemes live longer

than expected.

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UPDATE 1-Payments company Nets to set listing plan in motion next week

* Nets could be valued at up to 35 bln crowns ($5.3 bln)

(Adds detail, sources)

Read more

Saturday, August 27, 2016

UPDATE 1-Vodafone India to delay IPO filing until towards end-2016 - IFR

MUMBAI, Aug 25 (Reuters) - Vodafone Group Plc's

Indian unit is likely to delay filing the draft prospectus for

its up to $3 billion initial public offering (IPO) until towards

the end of the year, IFR reported on Thursday

Read more

Thursday, August 25, 2016

MOVES-Barclays' GFRS head Langley to retire from industry

LONDON, Aug 24 (IFR) - John Langley, Barclays' head of

global finance and risk solutions (GFRS), is retiring from the

industry to pursue other opportunities, according to an internal

memo seen by IFR.

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Vodafone India to delay IPO filing until towards end-2016 - IFR

MUMBAI, Aug 25 (Reuters) - Vodafone Group Plc's

Indian unit is likely to delay filing the draft prospectus for

its up to $3 billion initial public offering (IPO) until towards

the end of the year, IFR reported on Thursday

Read more

Wednesday, August 24, 2016

Planned BP stake sale in Indian unit has not taken place - exchange data

MUMBAI, Aug 24 (Reuters) - An up to $261 million share sale

in Castrol India Ltd by BP Plc due to take

place on Wednesday according to a term sheet seen by Reuters had

not taken place as of the end of the trading day, according to

exchange data.

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AstraZeneca to sell antibiotics business to Pfizer

LONDON, Aug 24 (Reuters) - Pharmaceutical company

AstraZeneca said it had agreed to sell its small

molecule antibiotics business to Pfizer in a deal that

could reach more than $1.5 billion.

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UPDATE 1-Pfizer to buy antibiotics business from AstraZeneca

* Says deal fits strategy of focusing on cancer and other

areas

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Tuesday, August 23, 2016

UPDATE 2-UK court says SABMiller shareholders can be split into two classes

* UK court ruling effectively raises investor approval

hurdle

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UK court says SABMiller shareholders can be split into two classes

LONDON, Aug 23 (Reuters) - A UK court has ruled that

SABMiller shareholders can be treated as two classes

when they vote on the company's takeover by Anheuser Busch InBev

, granting the request from the brewer for a split.

Read more

Barclays mandates banks for U.S. dollar AT1 securities

HONG KONG, Aug 23 (IFR) - Barclays PLC has mandated

itself as sole bookrunner and structuring adviser for a U.S.

dollar Reg S Additional Tier 1 offering.

Read more

Monday, August 22, 2016

Foreign banks storm dollar market in search of cheaper funding

NEW YORK, Aug 19 (IFR) - Yankee bank issuance has soared

this month as tighter spreads, favourable currency moves and

huge demand for higher-yielding US assets has lowered the cost

of borrowing in US dollars.

Read more

Monday, August 15, 2016

UPDATE 1-Australia's Aura Energy to float shares in London by end September

LONDON, Aug 15 (Reuters) - Australian uranium miner Aura

Energy Ltd is making a bet on a rebound in uranium

prices as it lists in London, hoping to raise about 2.85 million

pounds (US$3.7 mln) to fund development of a mine in Mauritania,

its chief executive said on Monday.

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Australia's Aura Energy to float shares in London by end September

LONDON, Aug 15 (Reuters) - Australian uranium miner Aura

Energy Ltd plans to list shares on the AIM market of

the London Stock Exchange by the end of September and aims to

raise 2.85 million pounds (US$3.7 mln), it said on Monday.

Read more

Sterling's BoE-fuelled rally hits turbulence

LONDON, Aug 12 (IFR) - Sterling bond issuance has boomed since the Bank of England announced

stimulus measures last Thursday, but the weight of new supply has put pressure on spreads and

the rally could already be running out of steam.

Read more

Friday, August 12, 2016

Poland picks HSBC, Bank of China as leads for Chinese bond issue

WARSAW, Aug 12 (Reuters) - Poland has picked HSBC and Bank

of China to organize its upcoming yuan-denominated bond issue in

China, the Polish finance ministry said on Friday.

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CORRECTED-More AT1 bonds expected after strong showing by RBS, StanChart

NEW YORK, Aug 11 (IFR) - Issuance of risky Additional Tier 1

capital could be set for a revival after Royal Bank of Scotland

and Standard Chartered printed large dollar deals that rallied

in secondary trade.

Read more

Thursday, August 11, 2016

UPDATE 1-Frenzied demand pushes StanChart AT1 book above US$17bn

LONDON, Aug 11 (IFR) - Standard Chartered has attracted over

US$17bn of orders for its Additional Tier 1 deal, the biggest

book for such a transaction from a European lender so far in

2016.

Read more

Orders for StanChart AT1 bond in excess of US$17bn

LONDON, Aug 11 (IFR) - Demand for Standard Chartered's

Additional Tier 1 bond issue is in excess of US$17bn, according

to a lead.

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BRIEF-San Leon to raise $200 mln for Nigerian field interest, names new chairman

* Confirms that mr mutiu sunmonu, former managing director

of shell petroleum development company of nigeria limited, is

expected to be appointed as non-executive chairman

Read more

Wednesday, August 10, 2016

UPDATE 1-RBS reaches 2016 AT1 target with £2bn-equivalent deal

LONDON, Aug 10 (IFR) - Royal Bank of Scotland attracted

US$15bn of investor orders for its US$2.65bn (£2bn) Additional

Tier 1 bond on Wednesday, the first AT1 from a UK bank since the

Brexit vote in June.

Read more

BRIEF-E.ON CFO says expects fierce competition in Britain

* Cfo says expects competition in britain to intensify next

year

Read more

RBS to price £2bn-equivalent dollar AT1 bond at 8.625%

LONDON, Aug 10 (IFR) - Royal Bank of Scotland is set to

price a US$2.65bn (£2bn) perpetual non-call five-year Additional

Tier 1 bond at 8.625% on Wednesday, according to an investor

following the deal.

Read more

REFILE-Three more blue chips pile into ebullient sterling market

LONDON, Aug 8 (IFR) - HSBC, BNP Paribas and BMW are taking

full advantage of positive momentum spurred by the Bank of

England's announcement last week of up to £10bn of corporate

bond buys, and will price heavily oversubscribed trades later on

Monday.

Read more

Monday, August 8, 2016

BRIEF-Melrose to launch rights issue for Nortek deal

- 'Window shop period' in respect of its takeover proposal

for Nortek inc. ("nortek") expired without Nortek having

received a superior proposal

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Sterling corporates on winning streak as BoE restarts QE

LONDON, Aug 4 (IFR) - Sterling corporate bonds rallied hard

on Thursday after the Bank of England said it would buy them as

part of its quantitative easing reprise, with bankers now

touting for more business.

Read more

Thursday, August 4, 2016

REFILE-Sterling primary market swats aside Brexit concerns

LONDON, Aug 4 (IFR) - Corporates and financials have sold

just over £6.5bn of bonds since the UK voted to leave the

European Union, as the sterling primary market fights back and

issuers take advantage of attractive funding costs.

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TREASURIES-Yields rise on Microsoft bond offering, profit-taking

* Appetite for Microsoft offering skews demand away from

U.S. Treasuries

Read more

Monday, August 1, 2016

UK welcome first London sale of rupee bond from Indian private company

LONDON, Aug 1 (Reuters) - British finance minister Philip

Hammond welcomed the issuance on Monday of the first offshore

rupee-denominated bond from a private company, saying it

highlighted London's status as a leading global finance centre.

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UK banks lining up to re-open AT1 market

NEW YORK, July 29 (IFR) - Several UK banks could reopen the

Additional Tier 1 capital market in the weeks ahead, as

yield-starved investors find more to like in the risky asset

class.

Read more