BNP Paribas
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French shopping centre operator Unibail-Rodamco said in December it planned to sell around €2bn of bonds to refinance the bridge loan it has taken on to fund its $15.7bn acquisition of its Australian peer Westfield Corp. On Monday, it brought the deal to market and received reassuring demand. -
German building materials company HeidelbergCement sold its first trade of 2018, replicating its last deal of 2017. It also priced the new deal at a spread close to that it paid in 2017.
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FirstRand Bank was on track to open the market for South African tier two issuance ahead of Barclays Africa, which is lining up a trade for later this week.
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Financial institutions piled into the euro market with green bonds this week, but the contrasting fortunes of each of the new deals raised a number of questions about whether or not green was still the safest game in town, writes Tyler Davies.
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A decent start to the week gave way to caution as escalating geopolitical concerns slammed the brakes on US high-grade dollar supply.
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Adecco, the Swiss temporary staffing company, has become the latest blue chip to use a sustainability-linked loan structure for its main corporate revolving credit facility.
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European high yield bond issuers roadshowed for seven lower rated new offerings this week, leaving behind the quiet of the post-Easter recess. What followed was a vigorous tug of war over pricing and terms in which bankers and investors claimed different victories.
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French parking company Infra Park sold a new 10 year bond on Thursday to refinance calling a short dated bond and reimbursing a shareholder loan.
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Korea Resources Corp (KoRes) navigated a number of hurdles to complete its $500m bond on Tuesday to imminently refinance maturing notes. The company found plenty of support for its annual issuance, but only after it offered a juicy premium to investors.
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A trio of euro borrowers picked up a combined €8.5bn on Tuesday, seemingly without testing the limits of demand in the market.
