Banks

The International Finance Corporation returned to the Czech koruna bond market after a 21 year absence this week to place the largest SSA deal in the currency since 2015.

Student Hotel finds bed for sustainable loan — Italo mainlines green loans — Green bond stalwart Tennet signs — Scottish Mortgage returns to US PP — CVC-owned April preps rapid refi

KfW’s first €STR bond hit the market on Wednesday. Although the German agency managed a tighter price than EIB’s first note in the format, it was not able to drum up the same level of demand.

A trio of triple-B rated companies brought bond sales totalling €2.75bn on Thursday, as a primary market abuzz with official stimulus roared towards the year's close.

Carrefour, the French supermarket group, has launched a tender offer for €2bn of bonds, hoping to buy back a maximum of €400m.

Gewobag, the A2/A+ rated German housing company, launched the first Schuldschein with a Euribor floor set below zero last week. Market participants said more will follow in 2020.

The Student Hotel, a Dutch hotel chain, has signed an €82m sustainability-linked loan, claiming the deal is the first of its kind from a European property company as the nascent financing structure presses into more industries.

French insurance brokerage April, a CVC portfolio company, has returned to the leveraged loan market to refinance the acquisition debt it raised in April, taking advantage of squeezed credit spreads and the expiry of its six month call protection.

The Republic of Angola kicked off a roadshow on Thursday for a two tranche dollar bond trade comprising 10 and 30 year bonds.

Dekabank was quick to launch a preferred senior bond on Thursday, garnering 2.5 times the demand it needed for its €500m print by mid-morning in London. The German lender only ended up paying a small new issue premium to its investors.

The Arab Republic of Egypt pulled in $14.5bn of demand for its $2bn triple tranche bond deal on Wednesday, in a trade that was priced well inside the sovereign's curve.

La Banque Postale has suggested that issuers of additional tier one (AT1) capital should drop the tradition of making large pricing steps in the euro market, after setting a very low coupon for its debut in the asset class this week.