Barclays
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Italy’s corporate sector extended its run of new bonds intended to fund buy-backs on Wednesday, with multiutility Acea the latest borrower to use the manoeuvre. -
Food and drinks giant Nestlé has signed €10.5bn of loans to refinance five and one year deals. The company refinanced to secure a similar group of banks in both deals, according to one banker.
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A group of banks and service providers, led by New York based start-up Axoni, have completed a test of blockchain technology and smart contracts to manage affirmations and post-trade lifecycle processing for over-the-counter equity swaps, building on similar work done earlier this year for credit derivatives.
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Poland cemented its position as one of EM’s most nimble and savvy issuers on Tuesday by printing a 30 year euro deal — only the second ever from a non-Eurozone sovereign — in an opportunistic trade.
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Snam visited the euro corporate bond market for the second week in a row on Tuesday, issuing a €500m four year bond and clinching a 0% coupon for the offering.
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The European Investment Bank was first into the dollar market this week with a three year mandate, the maturity of choice for dollar issuers over the last few weeks. Export Development Canada last Friday sold the first five year dollar benchmark from SSA in several weeks and, while it went well, bankers do not expect other issuers to follow suit.
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Hong Kong's Cheung Kong Property Holdings is looking to take advantage of a recent rating upgrade to ready a bond offering.
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Barclays, Lloyds Bank, Nomura and Royal Bank of Scotland will run the sale, scheduled for the week beginning October 24.
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Guarantor: Financial Market Stabilisation Fund of the Federal Republic of Germany
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A sell-off in eurozone government debt last week, over rumours that the European Central Bank might start tapering its quantitative easing programme, may have helped issuers bring more shorter dated deals in euros this week than have been possible for months — but some issuers are wary that more volatility could be ahead.
