Banks
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Austria, Greece and Iceland all received huge order books for their first syndicated bonds of the year, coming hot on the heels of a European Union jumbo dual-tranche sale earlier in the week. -
The European Union continued where it left off last year as it returned to the bond market this week with another jumbo deal that attracted a huge order book for the first deal of the year under its Support to Mitigate Unemployment Risks in an Emergency (SURE) funding programme.
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Europe’s corporate bond investors had the chance to pick up some paper from the riskier end of their credit spectrum as the week began, with Portuguese power company Energias de Portugal (EDP) and Swedish housing firm Heimstaden Bostad out with hybrid capital issues.
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Steven Wirth is joining HSBC to head real asset fund coverage, and Giulio Hoffmann is to jointly lead power, utilities and renewables (PURE) for Europe, the Middle East and Africa.
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Iceland was awash with demand in the euro market on Thursday, allowing it to comfortably sell its biggest bond in euros since 2014. But it was a far different outcome for the Joint Laender, which failed to achieve full subscription.
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Real estate companies are some of the biggest borrowers in Europe this year, with loans for Valor Real Estate and QuadReal Property, a UK/Canadian property joint venture, and Supermarket Income Reit adding to the pile this week.
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Ambu, the Danish medical equipment company, has raised Dkr1.3bn ($212m) via the sale of new stock to fund a deleveraging of its balance sheet.
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FIG rainmaker Andrea Orcel is stepping back into the limelight as UniCredit chief executive, just as momentum is building for large-scale banking consolidation. He has an array of M&A options, but will he be shy in pulling the trigger? David Rothnie reports.
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Bank bond spreads widened on the back of negative sentiment this week, but a handful of lenders were still able to take advantage of a constructive backdrop in the new issue market.
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Supermarket Income REIT, a UK grocery property investment trust, has signed an £80m revolving credit facility, as the real estate sector continues to pile on debt.
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Chinese video-sharing platform Kuaishou Technology is generating huge demand for its IPO, which could be worth as much as HK$42bn ($5.4bn). The deal, set to be the largest primary listing globally since 2019, shows the growing interest around short video companies. Jonathan Breen reports.
