BNP Paribas
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State Bank of India’s new $750m five year financing has been launched into syndication after a 10-strong bookrunner group funded the transaction. -
Anglian Water priced a £250m eight year bond on Monday, its first green bond and the first from a UK water company since the Green Bond Principles were introduced in 2015.
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Two European agencies are set to launch dollar transactions on Tuesday, defying any talk of a summer slowdown to take advantage of supportive conditions.
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Mémora, the Spanish funeral services provider, has released price talk on a €300m loan package backing its buyout by the Ontario Teachers’ Pension Plan from 3i.
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KT Corp, formerly known as Korea Telecom, began marketing a new dollar deal on Monday morning local time, returning to the debt market a year after its last issuance.
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Shougang Corp Co, one of China’s largest steel producers by volume and assets, priced its maiden euro bond on Thursday, joining a slew of Chinese names exploring the European market this year.
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Guarantor: Financial Market Stabilisation Fund of the Federal Republic of Germany
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Greece’s comeback bond this week should build on its already strong secondary performance, said SSA bankers, paving the way for the sovereign to bring more deals before its scheduled bail-out exit in August 2018. Bankers were quick to point out that while the deal resembled its last comeback trade in April 2014, much has changed since — including its cost of borrowing.
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FMS Wertmanagement was this week the latest public sector issuer to enjoy enviable conditions in the dollar market, and after a US Federal Reserve meeting this week passed without any major surprises more borrowers are rumoured to be looking at trades for next week.
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Forecasts that Europe’s corporate bond market would be all but closed for the summer this week were belied by Unilever on Monday when it launched its biggest-ever euro bond and took some of the tightest corporate pricing ever.
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The three new issues and one tap that priced in the investment grade corporate bond market this week were all two to three times oversubscribed, but a thinning supply pipeline and the excuse of a Fed meeting meant no deals were launched on Wednesday or Thursday. However, three issuers are looking to issue before the summer break, following meetings with investors.
