Banks
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The short Easter week saw a timid showing of new high grade corporate issuance in the European market but investors snapped up the trades that were on screens. -
European banks face tough conceptual and regulatory barriers as they enter the market for sustainability-linked debt. But DCM bankers hope that they can find a simpler solution for issuers by focusing on covered bonds, write Tyler Davies and Bill Thornhill.
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KfW and CPPIB Capital achieved super tight pricings in the short end of the US dollar market on Thursday, with the former bringing the first deal with a negative spread to mid-swaps in the currency by a public sector borrower this year.
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Gatwick Airport got a bulging order book for its return to the senior funding market, weeks after the UK airport got chunky demand for its debut subordinated transaction.
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Athora Netherlands returned to the market after almost three years away on Thursday, raising €300m of tier two paper for the first time since its takeover by its Bermuda-based parent.
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Lansforsakringar Bank (LF Bank) enjoyed the sole attention of the market on Thursday as it placed the day's only senior bond in euros. With market conditions constructive, bankers expect more esoteric names could follow.
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Chinese electric vehicle manufacturer Li Auto has raised $750m from its debut convertible bond, pricing the deal at the investor-friendly end of the marketed range.
