.png){kind=logo}
GC Asia
Holcim’s €500m no-grow over five times covered
Swiss cement maker Holcim clocked up a book of more than €2.5bn for its €500m bond on Thursday. The demand was startling but was not driven by generous pricing — the no-grow eight year bond came tight, some 10bp inside guidance of 130bp over mid-swaps.
The Baa2/BBB/BBB rated issuer locked in a 2.625% coupon, and at a re-offer of 99.786, the bonds yielded 2.655%. HSBC, Santander, Société Générale and UniCredit were leading the transaction.
A banker away from the deal said it was hard to figure out the new issue premium on the ...Already a subscriber? Login
-
Latest news from Corporate Bonds
-
Europe’s IG bankers stare down barren deal pipeline
30 Sep 2020 -
Corbion sells PP to repay revolver drawdown
30 Sep 2020 -
Natixis's new DCM head Levy eyes SSA growth
30 Sep 2020 -
Serco prices new $200m US private placement
30 Sep 2020 -
Japan Tobacco gives euros hit of single-A rated hybrids
30 Sep 2020
-
-
Latest news from Corporate Bonds
-
Europe’s IG bankers stare down barren deal pipeline
30 Sep 2020 -
Corbion sells PP to repay revolver drawdown
30 Sep 2020 -
Natixis's new DCM head Levy eyes SSA growth
30 Sep 2020 -
Serco prices new $200m US private placement
30 Sep 2020 -
Japan Tobacco gives euros hit of single-A rated hybrids
30 Sep 2020
-
