BNP Paribas

Europe’s high grade corporate issuers piled into the bond market during the run-up to this week’s European Central Bank meeting, with Vonovia and JDE Peet’s bringing standout jumbo trades.

Aedifica, the Belgian real estate investment trust focused on healthcare properties, is financing its forward pipeline of investment opportunities with a €300m sale of new shares.

Enel, a long term sustainable finance champion, took €10.4bn of orders for its triple tranche sustainability-linked notes this week, but needed to pay up for longer maturities as inflation worries persisted.

Italy scored its second 10 year BTP syndication of the year on Tuesday as it took advantage of less volatile market conditions ahead of a crucial European Bank governing council meeting on Thursday. Greece will follow with a syndicated tap of its outstanding 10 year bond on Wednesday.

French insurer Macif is set to issue up to €1.75bn of subordinated debt to fund its coming acquisition of Aviva France.

Two issuers in Europe’s high grade corporate bond headed to the short part of their curves on Monday as inflation worries continue to rattle the market ahead of the European Central Bank meeting on Thursday.

Buyers piled into a debut sustainability-linked bond from Italian oil major Eni on Monday, despite there being some pushback from investors over higher polluting issuers coming to the ESG markets.

Mondi, a UK packaging and paper company, has signed a €750m revolving sustainability-linked facility, days after completing an acquisition of a Turkish packaging firm.

Europe’s corporate bond market has seen an influx of ESG deals from highly polluting sectors, testing how much environmentally and socially conscious investors buy into firms' transition stories.

Indian company Tata Motors' subsidiary TML Holdings has printed its largest dollar bond so far, raising $425m at a low yield.

French engineering company Vallourec has unveiled plans for a €300m rights issue to help return its balance sheet to a sustainable footing, following a recovery in the oil industry after the slump in demand caused by the Covid-19 pandemic.

A HK$2bn ($257.9m) loan to support a CVC Capital Partners-led consortium’s privatisation of Hong Kong fashion retail firm I.T has been launched into general syndication.