BBVA
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Heineken used the quieter end of the week in terms of issuance to price its second benchmark corporate bond issue of the year. The sixth benchmark issue of the year in Europe from a beer producer was the only deal in the market on Friday. -
Heineken used the quieter end of the week in terms of issuance to price its second benchmark corporate bond issue of the year. The sixth benchmark issue of the year in Europe by a beer producer was the only deal in the market on Friday.
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Investors scrambled for yield in the dollar bond market this week as Concho Resources printed its debut investment grade offering amid nearly $19bn of other corporate offerings.
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A full €2.3bn of bond offerings from seven borrowers hit screens on Monday in the European high yield bond market, following last week's more than €3bn of new bonds despite fund inflows turning negative.
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Telefónica printed the largest single tranche of the day on Tuesday, with a €1.25bn deal with a January 2028 maturity. Despite competing with three other corporate bond deals in the euro market, the deal built a €3bn order book and was printed with a single digit new issue premium.
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On Tuesday, Telefonica printed the largest single tranche of the day, with a €1.25bn deal with a January 2028 maturity. Despite competing with three other corporate bond deals in the euro market, the deal built a €3bn order book and printed with a single digit new issue premium.
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A pair of public sector borrowers are set to bring their longest dated euro benchmarks in some time on Tuesday, as underlying rates for both issuers fell slightly on Monday.
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CaixaBank set a spread of 95bp over mid-swaps on Thursday for a long five year senior non-preferred bond in euros, following on from BBVA’s €1.5bn debut in the instrument.
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Spain's BBVA attracted over €5bn of demand and achieved a minimal new issue premium for its first senior non-preferred issuance on Wednesday.
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Supply-starved investors have been quick to get involved in the first senior bond transactions in euros in nearly a month, with banks leaping back into the market this week following the summer holidays.
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Conditional books are already oversubscribed for the €240m term loan that funds the Ontario Teachers' Pension Plan's acquisition of Mémora, an Iberian funeral services provider.
