BBVA
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Demand for corporate bonds is strong but it is at its strongest for green and hybrid debt, especially for deals that combine both qualities. On Tuesday, Spanish utility Iberdrola found similar demand for green hybrids to that which Engie and EDP had benefited from in January, and market participants are starting to revise their issuance forecasts for the asset class. -
Finland and Madrid hit screens on Monday to capitalise on the red hot appetite for euro sovereign supply in the 10 year part of the curve.
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Spanish telecoms company Telefónica on Monday launched the first green bond in euros from the telecoms sector. The firm, rated as one of Spain’s leading companies in the fight against climate change, published its Sustainable Development Goal (SDG) framework in November but had to wait two months to sell its first green bond.
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Spain mandated banks on Monday for its first syndicated bond of the year, as it looks to replicate the success of other eurozone sovereign syndications so far in 2019.
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The new-look Fox Corp made its dollar bond debut this week as the technical backdrop in the investment grade continued to improve with tightening spreads and thinner new issue concessions.
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Spain’s Aena has signed an €800m sustainability-linked revolving credit facility, which the arrangers claim is the world’s first deal of its kind for an airport operator.
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Changing emphasis from national regulators could give European banks more incentive to refinance additional tier ones with low common equity tier one triggers in the next couple of years, according to analysts at research house CreditSights.
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BBVA said it had appointed Onur Genç to take over as chief executive of the group, once Carlos Torres Vila, the present CEO, becomes executive chairman.
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French toll road operator APRR had been quiet in 2018 by its own standards, but it sold its first corporate bond deal of the year on Wednesday with a €500m long 11 year trade. It paid a low new issue premium for the deal, but lost a number of orders along the way.
