Citi
-
Shinhan Financial Group sold a Basel III-compliant additional tier one bond with a sustainability label this week, funnelling some of the proceeds from the $500m trade to Covid-19 relief efforts. -
Eni, the Italian oil and gas company, got its chunky €2bn hybrid capital issue comfortably oversubscribed on Tuesday, after a similar success for Orange last week. Corporate bond investors are piling money into anything that offers higher returns.
-
Greece was the only public sector borrower to announce a new benchmark transaction on Tuesday, picking banks to lead a new five year syndicated deal.
-
Emmanuel Regniez has left his position as head of France investment banking and coverage at Citi to take up a co-head role at Bank of America, as the latter beefs up its presence in the country.
-
Trans-Oil Group, a Moldovan agriculture company, is planning to roll over its one year pre-export finance (PXF) facility this summer, having recently sold its lowest coupon bond. The issuer has had, on occasion, far from a smooth ride in capital markets, including a failed attempt at a bond debut in 2018.
-
Vestas, the Danish wind turbine maker, has signed a €2bn-equivalent facility linked to key performance indicators around sustainability. It was the first time the borrower has structured bank debt in this way.
-
Fosun International has sold off a block of Tsingtao Brewery’s Hong Kong-listed shares for HK$2.34bn ($301m).
-
Issuers piled into Europe’s high grade corporate market on Wednesday but the deal flow had slowed to a dribble by Thursday with many issuers still on earnings blackouts. Investors showed less enthusiasm for the deals that came at the tightest spreads.
-
-
Italy returned to the dollar market this week with a dual tranche offering of new three and 30 year bonds, with the latter extending the sovereign’s curve in the currency to 2051.
-
-
