Commerzbank
-
The corporate bond market started at a frantic pace on Tuesday with five deals pricing. But on Wednesday French tyre manufacturer Michelin found its patience was rewarded with a chance to dominate investors’ attention and it was able to build the largest order book for a 20 year euro tranche in 2018. -
Syndicate bankers on Tuesday’s triple tranche deal from German machinery maker Siemens claimed to be the winners on a day of very competitive supply.
-
There was little in the way of emerging market bond issuance this week to set the tone for the usually busy month of September. Although mBank raised €500m of four year money, CEE-focused Atrium European Real Estate had yet to appear with a deal that had been planned for Thursday.
-
The corporate bond market started at a frantic pace on Tuesday with five deals pricing. But on Wednesday French tyre manufacturer Michelin found its patience was rewarded with a chance to dominate investors’ attention.
-
mBank, a Polish financial institution, has hit the market with what will be the first euro benchmark from a CEEMEA borrower in over a month, taking what some investors believe is a cautious approach to reopening the market.
-
The autumn term has definitely begun in Europe’s corporate bond market. BMW and Daimler, which launched deals last week, may have been the scholarship swots who returned extra-early, but this week the whole sweaty gang of issuers is back en masse, and making plenty of noise.
-
-
It is misplaced to be relaxed about the speed with which banks are aligning their liability structures with regulatory requirements.
-
Berlin Hyp, Commerzbank and Deutsche Bank used this week’s supply window to launch the first three preferred senior deals out of Germany, which has only just legislated for issuance in the asset class.
-
Polish bank mBank is embarking on a roadshow to market the first euro denominated international public bond from the CEEMEA region in over a month, and the first since Turkey’s currency crisis triggered a wave of selling across emerging market debt.
-
Russia’s Mechel has signed a $1bn-equivalent loan facility, as the metals and mining group pushes ahead with plans to restructure its debt portfolio by the end of 2018.
-
Burundi-headquartered Eastern Southern Africa Trade & Development Bank has launched a $400m dual tranche loan into syndication, according to two lenders invited into the deal.
