BNP Paribas
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Aveva, the UK software company, has completed another round of loan financing linked to its $5bn purchase of US industrial software company OSIsoft, with the acquisitive firm taking a sterling revolver but scrapping a planned $900m loan. -
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Tesco, the UK grocer, has refinanced its sterling facility with a £2.5bn sustainability-linked deal that uses risk-free rates as a benchmark, as companies try to get to grips with the end of Libor.
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Kasikornbank Public Co rolled out its first Basel III-compliant additional tier one subordinated dollar transaction on Thursday. The Thai borrower bagged $500m on the back of an orderbook that reached $2.5bn at its peak.
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Argenta Spaarbank, Belfius Bank and Jyske Bank took differing approaches to sell €500m no-grow senior bonds this week — Argenta offered a substantial new issue premium, while the latter pair pushed their pricing close to fair value.
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Risk appetite has returned to the high grade corporate bond market this week, as investors looked to snap up what they could before presidential election volatility and earnings blackouts create a desolate primary market.
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Europe’s high grade corporate market was red hot this week with bulging order books and negative concessions, as concerns about scant primary supply to come washed away investor jitters about a collapsed $2.2tr fiscal stimulus deal in the US.
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Raiffeisen Schweiz surpassed expectations with a self-led additional tier one (AT1) deal on Wednesday, printing Sfr525m ($572.4m) after finding strong international demand.
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Crédit Agricole and Nykredit Realkredit were able to push aggressively on pricing in the additional tier one (AT1) market this week, as they took advantage of favourable supply and demand dynamics.
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Unédic returned for another social benchmark on Thursday, adding to the slew of successful French agency SRI-themed paper.
