Commerzbank
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Emirates NBD sold a $500m perpetual bond on Wednesday. The bond priced flat to the borrower’s existing Basel II compliant note. However, bankers away from the deal said that it looked to have struggled throughout the execution process.
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Lagardère, the unrated French media group, returned to the bond market today after a two year absence with a successful €500m issue that showed how it has repositioned its credit as an investment grade issuer.
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Emirates NBD announced on Tuesday a new tier one perpetual offering. However, the bond will not be Basel III compliant and therefore will not have a point of non-viability (PONV) feature.
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The subordinated debt market for European financials was back in full swing with four deals out on Monday morning boosted by the European Central Bank's policy decisions made last week.
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Deutsche Lufthansa, Germany’s national airline, launched its first bond today since 2009, at the remarkably tight spread of 75bp over mid-swaps – showing just how valuable a loyal following of domestic investors can be.
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Chinese state-owned conglomerate Citic has wound up its $1bn dual tranche loan with three banks joining during general syndication.
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Deutsche Lufthansa, the German national airline, announced on Thursday plans for a €500m five year bond, its first since 2009.
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Corialis - KKR's Finedining Capital - Douglas Holding
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Finedining Capital, a holding company owned by KKR, will launch a €615m loan to back its purchase of a 90.3% stake in German kitchenware producer WMF's preference shares.
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British cigarette maker Imperial Tobacco has secured financing for its $7.1bn acquisition of brands from Reynolds American, and refinanced its existing revolving credit facilities.
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Emirates NBD has announced a roadshow for a perpetual tier one bond. But the bond will not be structured with the aim of being Basel III complaint, which sparked debate among bankers on and off the deal.
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BMW reopened the European benchmark investment grade corporate bond new issue market on Tuesday with a punchy €1.75bn deal that sent a strong signal: spreads — and especially yields — for corporate issuers are set for a very tight autumn. BMW paid a coupon of just 0.5% on its €1bn four year tranche. But despite these pitifully thin yields, investors are eager to buy.