Barclays
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The European investment grade corporate bond market took a break for the Epiphany public holiday across the continent on Wednesday, but syndicate bankers say deals will flow thick and fast throughout early January. -
Spain’s Abanca sold the year’s first subordinated deal in euros on Thursday, when it issued a perpetual non-call 5.5 year additional tier one (AT1) bond to help optimise its capital structure.
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BMW set Europe's investment grade corporate bond market off to a flying start for the year on Monday, printing €1.5bn of debt at or inside fair value.
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Europe’s corporate bond market was teeming with life again on Thursday after a brief pause for public holidays as German pharmaceutical company Bayer and UK energy company National Grid drummed up bulging order books in euros and sterling.
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Singaporean ride-hailing company Grab Holdings has added a dash of excitement to the loan market with plans to raise $750m from a new outing. Pan Yue reports.
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Toby Croasdell has been appointed global head of MTNs, private placements and commercial paper at Crédit Agricole, following the promotion of previous head Benjamin Lamberg last month.
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Wessex Water, the UK utility, proved that there is still demand for sterling corporate paper in a post-Brexit world, achieving almost five times oversubscription for its 15 year bond.
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Public sector borrowers soaked up huge demand in the euro market on Tuesday including the State of North Rhine-Westphalia, which printed its biggest ever 100 year bond despite offering a yield of less than 1%.
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A pair of senior non-preferred bonds from Swedbank and Société Générale on Tuesday followed Monday’s opener from ING. With three household names now having established pricing points, rarer borrowers are starting to fill the pipeline.
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The Republic of Slovenia has repeated its 2020 feat of being the first sovereign issuer in CEEMEA to launch a bond by coming to the market with a mandate on Tuesday. Despite the apparent rush for bond funding, however, many believe that EU funding will provide some of what CEE countries would otherwise have taken from public bond markets.
