BNP Paribas
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Dutch residential property company Vesteda sold a €500m eight year bond on Tuesday to help refinance its acquisition of a Dutch property portfolio from Dutch financial services company NN Group. -
Belgian postal operator Bpost announced a debut benchmark eight year deal within 48 hours of finishing an investor roadshow and achieved a very high quality order book for an eight year bond.
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Toyota’s Australian finance arm ended a 14 year hiatus from issuing bonds in sterling this week when it sold the first sterling corporate bond of the second half of 2018. The breadth of the sterling investor community was evident in the order book, but the depth was not.
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UK retailer J Sainsbury’s has signed a £3.5bn loan package to back its acquisition of Walmart-owned Asda, with the company raising more debt than the cash component of the deal despite analysts raising concerns about the borrower’s recent debt levels.
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BNP Paribas said on Thursday that it had hired Paul Hollingsworth as UK economist.
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Banks have been hiring staff to help financial sponsors hunt jumbo take-private deals as opportunities dry up elsewhere, writes David Rothnie.
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Two corporate bond issuers from opposite ends of the ratings spectrum found similar success with new bonds on Wednesday. The seven and eight year tenors found favour with investors looking to put new cash inflows to work.
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Beverage company Rémy Cointreau has signed a €100m syndicated loan, with a pricing structure that could see the margin on the debt plunge by more than 70% if certain conditions are met.
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Lietuvos Energija on Tuesday made full use of its green credentials to price a €300m bond with a much smaller new issue concession than has been seen on the majority of recent new issues.
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Dutch residential property company Vesteda offered euro corporate bond investors the first deal of July on Tuesday when it sold a €500m eight year trade to help refinance its acquisition of the Amstel Tower apartment block in Amsterdam.
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Car manufacturer Toyota’s Australian finance arm ended a 14 year hiatus from issuing bonds in sterling when it sold the first sterling corporate bond of the second half of 2018. The return of such an issuer will help fuel optimism that issuance in the currency in the second half of the year may help to redress the balance after one of the lowest volumes of first half issuance in the last decade.
