Banks
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Rolls-Royce, the UK jet engine maker, has signed a £1.5bn short term revolving credit facility, as lenders say European and US aerospace companies are having to approach fundraising in vastly different ways. -
German meal kit delivery company HelloFresh has issued a €175m debut convertible bond to fund growth opportunities after reporting stellar first quarter results, as more consumers dine at home because of the restrictions imposed to help combat the Covid-19 pandemic in its key markets.
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On a busy day for corporate bond issues, with prestigious competing deals including from Nestlé, Swisscom is nevertheless hogging attention with its debut green bond, which comes alongside another green debut, for power networks group Eurogrid.
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Royal Bank of Scotland has become the first European bank to issue subordinated debt in more than two months. It took advantage of strong demand in the sterling market this week, with investors confident that the UK lender will be well placed to withstand the economic impact of the coronavirus pandemic.
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Nordea Bank and Erste Group Bank were marketing preferred senior bonds on Wednesday, finding demand in the seven year part of the curve following a flurry of five year deals earlier this week.
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When revealing its first quarter results on Wednesday, UniCredit said it would be updating its freshly launched Team 23 plan in the wake of the coronavirus crisis, which has dented profitability.
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Citigroup is determined to emerge as a winner from the Covid-19 crisis and conquer the summit of global investment banking, in the face of any pull to concentrate more on home markets, writes David Rothnie.
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SBAB Bank found plenty of room to tighten the pricing on a new preferred senior deal in euros on Wednesday, after investors welcomed the trade’s green credentials.
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High grade bond investors had a plethora of trades to pick from on Wednesday, as corporate bankers say May is shaping up to be a breakneck month for issuance.
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Kingsoft Cloud Holdings is on the road with its up to $450m Nasdaq IPO. Thanks to strong pre-launch demand, it is running a quick three-day bookbuild, according to a source close to the deal.
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Hong-Kong based conglomerate CK Hutchison Holdings hit the international bond market with a dual-tranche deal on Tuesday, finding a window to raise $1.5bn.
