Barclays
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Croatia's €1.5bn 10 year bond drew praise for a tight result but also criticism for having released initial price guidance too wide.
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Lodha Developers has started taking orders for its maiden bond on Thursday, having postponed the trade from the end of last year after demand was lacklustre. The Indian borrower is taking no chances this time around and has launched with a much wider pricing level to woo investors. -
French energy company GDF Suez has issued €2.5bn of bonds in four fixed rate tranches, of two, seven, 11 and 20 years, with small new issue premiums.
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Barclays, RBS and Standard Chartered have explained how they plan to meet new total loss absorbing capital (TLAC) rules — although the rules are not yet finalised and will not come into force until 2019.
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Croatia has tightened talk for its 10 year euro-denominated bond to 270bp area over mid-swaps, as the book for the deal climbed to past €5bn.
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Abu Dhabi Commerical Bank printed its $750m bond on Tuesday with only a 2bp new issue premium, crunching even tighter than the other aggressively priced United Arab Emirates bank bonds this year.
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Finland showed what is possible at a deeply negative swap spread and sub 1% yield in the long dated part of the euro curve on Tuesday.
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Ineos, the Swiss-registered chemicals company, has set price guidance on its €750m refinancing loan in dollars and euros, slightly ahead of Tuesday’s 2pm lender call.
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Edenred, the French prepayment services company, issued a €500m 10 year bond on Tuesday to fund its €150m acquisition of 34% of Germany’s Union Tank Eckstein, and to refinance debt.
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Campofrio Food Group, the Spanish meat processor, has brought back to the market a €500m high yield bond it pulled in November.
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Barclays’ shares fell 3% on Tuesday to 255p after the bank’s full year results included a £1.25bn provision for FX rigging fines.
