Commerzbank
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Fondo de Amortización del Déficit Eléctrico (FADE) was warmly welcomed by capital markets on Tuesday for its first benchmark in 18 months, while Asian Development Bank hit screens looking for its first syndicated euro deal in almost three years. HSH Finanzfonds also raised cash on Tuesday. -
Crédit Mutuel CIC on Tuesday became the first French covered bond borrower to begin and finish pricing at a spread that was markedly through OATs in this part of the curve, but the deal was a smaller size than expected.
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French supermarket chain Auchan Holding on Tuesday came to the bond market for the first time since Standard & Poor’s downgraded its ratings from A- to BBB+ in April, but demand for the credit was said to be “bullish”.
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A few of Europe's smaller borrowers are trying their luck now that the storm of issuance that thronged markets through most of January has abated.
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UK tobacco company Imperial Brands hit the euro bond market on Tuesday for a dual tranche offering of 4.5 and eight year notes that won over three times oversubscription.
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Industrial Bank of Korea (IBK) has become the latest issuer from the country to venture offshore, opting for a Reg S only format to speed up execution.
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Siam Commercial Bank and the Industrial Bank of Korea both returned to the dollar bond market on Monday an extended period away.
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SpareBank1 Boligkreditt, Aareal Bank and Nordea took advantage of strong demand for five year paper to issue oversubscribed deals this week, paying virtually no new issue concession.
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The European Investment Bank scored an impressive €5bn with a 10 year Earn on Wednesday.
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Sparebank 1 Boligkreditt and Aareal Bank issued well oversubscribed covered bonds on Wednesday, paying virtually no new issue concession. Both banks took advantage of enduring demand for five year tenors, while for Aareal the issue was cheaper than the European Central Bank’s term liquidity.
