Banks

CaixaBank and BayernLB were able to sail through fair value with green non-preferred senior deals this week, bucking a trend for rising new issue premiums in 2021. Bankers say a lack of supply is finally helping borrowers to exert more power over their pricing.

Iliad, the unrated French telecoms company, attracted ample demand and twice increased the expected size of its bond during bookbuilding on Thursday, as syndicate bankers say the European corporate market is wide open to all types of issuer.

IDB Invest, the arm of the Inter-American Development Bank that lends to the private sector, matched its biggest ever deal size as it came to the market on Thursday for its debut sustainability bond.

Goldman Sachs is trying to steal a march on rivals as it looks to turbo-charge its European business by leading the listings of the region’s most vibrant start-ups, writes David Rothnie.

Deutsche Bank was able to present a successful year for its investment bank when it announced fourth quarter and full year results on Thursday, coming 18 months after the restructuring of the business. The question now is whether it will be able to hold onto its increased profitability when times are less lucrative for investment banks.

Banco Commercial Portugues is planning to build out its debt stack with a preferred senior note, which should have value for the minimum requirements for own funds and eligible liabilities (MREL).

Whitbread, the UK hotel and pub company, amended and extended its revolving credit facility at around the same time as it stormed the bond markets with a blowout debut green trade.

New Horizon Health hit the equities market on Thursday, aiming to raise up to HK$2.04bn ($263.1m) from its IPO, according to a source familiar with the matter.

Banco Santander has followed Belfius Bank in launching a very successful new seven year bond this week, as bank treasury accounts lend their support to low yielding preferred senior paper.

Chinese company Alibaba Group Holding made its long-awaited return to the debt market this week, even as the country’s regulators turned up the heat on the e-commerce giant.

A Dutch shell company is vying to become the first European special purpose acquisition company (Spac) to list this year.

Indian Railway Finance Corp (IRFC) sold its first bond since its IPO this week, raising $750m.