Banks

The holding company of the Bolloré billionaire family is planning to issue an unspecified amount of unsecured notes. Their largest investment, a 26% stake in media giant Vivendi, will be excluded from some of the covenants designed to protect the investors.

French supermarket group Casino started marketing work for the bond it is relying on to unlock a new revolving credit facility, terming out its debt maturity and relieving some financial pressure.

Germany’s E.On came with a €500m no-grow 2031 trade on Thursday, as corporate bond syndicate bankers said it was still too early to judge the scale of the European Central Bank’s bond buying programme.

Deutsche Bank will meet investors next week to market a structured covered bond, people familiar with the deal told GlobalCapital on Thursday. The bank will enjoy a material reduction in the cost of funding compared with senior preferred debt and will still be able to offer investors a big pick-up to Pfandbriefe, meaning the innovative deal has already sparked widespread interest from rival issuers and investors alike. Bill Thornhill reports.

The UK’s Derwent London has signed a £450m revolving credit facility that is partly made up of a green loan tranche, in what the borrower says is the first deal of its kind for a UK real estate investment trust (Reit).

Verizon Communications, the US telecoms group, returned for the second time to the Kangaroo market on Wednesday to extend its curve out to 20 years in what one lead manager described as a first for the market.

BNP Paribas enjoyed a bumper increase in revenues from primary bond issues and fixed income trading in the last quarter, it revealed on Thursday.

Banks are lining up to refinance additional tier one deals ahead of their call dates in 2020, after a string of deals this week proved that yields are teetering on record lows in the market.

Home Credit and Finance Bank, the Russian consumer finance bank, priced a rare additional tier one trade from the country this week.

Italian infrastructure engineering firm Maire Tecnimont has brought a sustainability-linked note to the Schuldschein market, the second to be launched this week. However, with this debut issue, the margin rise or fall is larger than the previous two, making it an interesting test for investors.

Chinese conglomerate Fosun International turned to Europe for its fundraising efforts this week, enticing investors to a €400m high yield rated bond.

Morgan Stanley-backed China Feihe, a producer of infant milk formula, hit the road this week to drum up interest in its Hong Kong listing.