Commerzbank
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German chemicals company BASF found substantial demand for its second visit to the corporate bond market to fund its acquisition of Bayer’s seed business. -
BMW Finance had to negotiate its way through a busy corporate bond market on Monday as it sold a €1.75bn 4.5 and eight year dual tranche offering. It had to pay new issue premiums of around 8bp-10bp but saw strong demand.
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Goldman Sachs sold its largest amount of Swiss franc bonds in a single Sfr325m issue on Tuesday afternoon, encouraging hopes that the Swiss franc might be regaining its status as a global funding currency.
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Commerzbank has added a director to its SSA team, hiring a former employee of Bank of America Merrill Lynch.
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A solitary syndication from KfW broke the otherwise placid waters of the public sector debt market on Wednesday.
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German car company Daimler raced from one side of the Atlantic to the other this week to raise €6.7 equivalent from 10 tranches of bonds with tenors from two to 10 years.
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On Thursday, German car manufacturer Daimler made its second visit to the corporate bond market with a €2.25bn dual tranche offering. This followed a $4bn seven tranche issue on Monday.
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A solitary syndication from KfW broke the otherwise placid waters of the public sector debt market on Wednesday.
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Stanbic Bank Kenya has signed a $100m dual tranche loan as lenders prepare for more deals from sub-Saharan Africa’s financial institutions.
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US paper and packaging company WestRock has signed a euro denominated loan for its Luxembourg subsidiary, though the firm has an option of three currencies to drawn down.
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German car leasing company Sixt Leasing had the benefit of meeting more than 30 investors and seeing another car leasing company print a deal before coming to market on Tuesday. However, based on order book size and pricing, this backdrop didn't help much.
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Bookrunners revealed more than €3bn of new speculative grade deals from seven issuers in the European high yield market this week. Coupons are slowly widening in the primary market, but they are still hitting issuers’ pricing targets, said market participants.
