Banks
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Vestas, the Danish wind turbine maker, has signed a €2bn-equivalent facility linked to key performance indicators around sustainability. It was the first time the borrower has structured bank debt in this way. -
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Fosun International has sold off a block of Tsingtao Brewery’s Hong Kong-listed shares for HK$2.34bn ($301m).
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Two Chinese government-linked companies raised a combined $600m in the offshore market on Thursday, ahead of the long weekend in China.
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Philippines-based renewable power producer AC Energy has generated Ps12.4bn ($256.3m) in fresh equity, pricing a sale of new shares at the bottom of the marketed range, according to a source familiar with the matter.
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Greek banks are making the most of exuberant conditions in the financial markets in 2021, with Eurobank spying a golden opportunity to return to the senior FIG bond market this week. The next milestone is the country’s first additional tier one and, having just breezed through an equity raise, Piraeus is a prime candidate to open the market. Frank Jackman and Sam Kerr report.
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Europe’s high grade corporate bond market is set for a glut of supply as companies appear to be loosening the capex purse strings once more. The only debate is about when it will come. With cash piles at near record levels, there is little agreement about when firms will need to fund spending with fresh debt, writes Mike Turner.
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Issuers piled into Europe’s high grade corporate market on Wednesday but the deal flow had slowed to a dribble by Thursday with many issuers still on earnings blackouts. Investors showed less enthusiasm for the deals that came at the tightest spreads.
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Goldman Sachs found the optimal window to return to the Swiss market this week, as local investors turn towards established names with a bit more yield on offer.
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