BNP Paribas

Macquarie shed over a third of its order book on Wednesday as it priced its third euro deal in 18 months at what was deemed a “very tight” level. It was joined in the senior market by Swedbank, which was issuing its first callable non-preferred bond.

Virgin Money UK was six times subscribed for a tightly priced tier two in the sterling market on Wednesday, despite having offered a very similar deal to investors last September.

SAIC-GMAC Automotive Finance Co priced a Rmb10bn ($1.56bn) auto loan ABS transaction this week, its third outing in China in 2021, switching to a simple structure comprising a senior and a subordinated tranche.

The rapid pace of new dollar bond issuance from Chinese property companies continued from Monday into Tuesday as four more borrowers joined the fray.

China Water Affairs Group has made a rare outing in the debt market for a $200m green bond.

The European Investment Bank failed to impress market participants on Tuesday with an order book far smaller in size than usual for an Earn benchmark and no move in the spread after guidance.

Germany sold a 30 year green bond via syndication on Tuesday, pricing the trade 2bp through its conventional twin bond of the same maturity and coupon.

Macquarie is set to extend its euro curve this week, after mandating banks for its third sale of group level debt in the currency in the last 18 months.

Credit Suisse Group targeted the dollar market this week for its first public bond offering since the collapse of US hedge fund Archegos. It ended up paying a relatively small new issue premium for its large $3.25bn transaction.

Piramal Glass has closed its $355m leveraged buyout loan, receiving strong response from 14 participants.

The spread benefit of ESG-linked debt was on clear display in Europe’s corporate bond market this week. For the second time in days, investors were offered two similar transactions and paid significantly more for the ESG option, in this case a green bond from Red Eléctrica.

Germany has picked banks for its eagerly awaited 30 year green bond. Bankers expect the deal to go well since it will be one of the rare German syndications to offer a positive yield.