Citi
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Enel, the Italian power and gas company, is set to push the nascent sustainability-linked bond market to a new currency this week after the company mandated for the first deal in the format in sterling.
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Tesco, the UK grocer, has refinanced its sterling facility with a £2.5bn sustainability-linked deal that uses risk-free rates as a benchmark, as companies try to get to grips with the end of Libor. -
Veolia, the French utility, has been successful with its sweetened €3.4bn offer for a 29.9% stake in compatriot water company Suez, opening the door to a full merger as the acquisitive company uses bridge loans and potentially an equity raise as part of the transaction.
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Kasikornbank Public Co rolled out its first Basel III-compliant additional tier one subordinated dollar transaction on Thursday. The Thai borrower bagged $500m on the back of an orderbook that reached $2.5bn at its peak.
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Europe’s high grade corporate market was red hot this week with bulging order books and negative concessions, as concerns about scant primary supply to come washed away investor jitters about a collapsed $2.2tr fiscal stimulus deal in the US.
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Europe’s investment grade corporate bond market saw trades from the Covid-19 rocked real estate sector on Thursday, with Immofinanz and Heimstaden Bostad attracting less demand than recent similarly rated trades.
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Unédic returned for another social benchmark on Thursday, adding to the slew of successful French agency SRI-themed paper.
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Chinese property company Agile Group Holdings raised $300m from its Wednesday bond sale, but found less investor support than excepted.
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Europe’s high grade corporate issuers secured another day of bulging order books on Wednesday, as concerns about scant primary supply to come washed away investor jitters about a collapsed $2.2tr fiscal stimulus deal in the US.
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The Republic of Turkey on Tuesday raised a five year dollar bond that priced slightly outside of some fair value estimations. However, despite a series of negative events in recent months, including currency depreciation, investors are still keen on getting stuck into Turkish debt, investors say.
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Europe’s investment grade corporate bond market is lining up more mandates, with German companies making up the bulk of new deals announced on Tuesday.
