Banks
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A pair of triple-A rated European agencies sold their first Swiss franc bonds for several years this week, responding to reverse enquiry for long dated, high rated paper. -
The European Investment Bank and Caisse d’Amortissement de la Dette Sociale (Cades) took centre stage in the public sector dollar market this week, ahead of the Lunar New Year, with EIB selling its first 10 year benchmark in the currency since 2015.
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Cellnex, the acquisition-hungry Spanish telecoms infrastructure company, proved the demand for riskier corporate debt on Tuesday, when its €2.5bn bond issue won applause for pushing a crossover credit out to a 12 year maturity.
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Unlike its last syndication in January, when Spain lost over €75bn of orders after an aggressive move in pricing, the sovereign took a more cautious approach on its return to the public market this week to print its biggest ever 50 year bond.
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The Asian Development Bank brought a pair of new themed bonds to the market this week, printing its first gender bond in Kazakhstani tenge as well as its first education bond.
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CTP, the Dutch logistics real estate company, did away with its usual bond marketing routine and went with a one day execution on its latest deal on Thursday, as the company reckoned on the green label and the sector it operates in being enough to get investors on board.
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Deutsche Bahn rolled into the Swedish krona market this week to sell its biggest non-euro deal since 2012.
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BPCE is drawing Natixis closer at a pivotal time for the investment bank and European banking consolidation, writes David Rothnie.
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SpareBank 1 SMN’s second green bond, priced on Thursday, is set to spark a flurry of similar green deals as issuers try and take advantage of the demand on offer for labelled debt — even at near-term tights.
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Castellum, a Nordic real estate company, has failed in its bid for Norwegian rival Entra, leading to the cancellation of $3.5bn-equivalent of bridge financing.
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US banking group JP Morgan has sold a new three-year €390m synthetic bond exchangeable into shares in Siemens, the German industrial conglomerate.
