Carmila sticks to curve in MTN debut

Shopping centre fotolia
By Frank Jackman
31 Oct 2019

French shopping centre operator Carmila visited the MTN market for the first time on Monday, 18 months after it last sold a bond via syndication. Rare issuer Toyota Industries Finance International returned to private placements at the end of last week to place its second euro floating rate MTN of the year.

Carmila printed a €50m 1.89% November 2031 note through HSBC. The issue price was not disclosed.

“They have issued larger stuff before, but this looks like the first MTN,” said a banker away from the deal. “Interesting that they did such a small size.”

Carmila had previously ...

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