Top stories

• Rampant demand as investors hoover up Schaeffler, Scentre, Glencore

  

  The European corporate bond market’s charmed life continued on Tuesday, as if the intensifying crisis of Brexit was just a dream. Two triple-B issuers and one single-A all found the same deep demand that has greeted every deal for the past few weeks.

  • 19 Mar 2019

• Rabo hires for coverage of food, drink and farming

  

  Rabobank has appointed Thomas Levin as a senior coverage banker, joining from Mizuho.

  • 19 Mar 2019

• Abertis ‘too good to be missed’ as corp bonds stay red hot

  

  Abertis Infraestructuras, the Spanish toll roads group, launched on Monday the four tranche bond issue it had roadshowed for last week, and found Europe’s corporate bond market as avid for paper as it has been for the last couple of weeks. That enabled it to achieve huge book sizes and at least one negative new issue premium.

  • 18 Mar 2019

• Telstra cuts through curve as investors relish single-A credit

  

  Telstra, Australia’s national telecoms company, returned to one of its most important funding markets, euro bonds on Monday, with a smallish benchmark deal that joined the remarkable wave of deals achieving negative new issue premiums.

  • 18 Mar 2019

• Deutsche’s misfiring CIB a crucial factor in Commerz merger plans

  

  Deutsche Bank has signalled its commitment to maintaining a “strong capital markets business” after admitting it has begun formal merger talks with smaller rival Commerzbank.

  • 18 Mar 2019

• NIPs gnawed off as investors scrap for bonds

  

  New issue premiums have all but vanished from European bond markets, as well as the dollar market for supranationals, sovereigns and agencies, with borrower after borrower ramming pricing down to its curve — and in some cases, way through it. Everyone knows it will end at some point, but for now, investors are offering no resistance — in fact, they are chasing deals tighter. By Jon Hay, Burhan Khadbai, Mike Turner and Tyler Davies

  • 14 Mar 2019

• Sanofi gets paid to borrow three year money

  

  The extraordinary conditions in Europe’s investment grade corporate bond market, in which three issuers in succession had printed multi-tranche bonds this week with no new issue premiums, produced a new bizarre result on Wednesday when Sanofi, one of the market’s tightest-trading issuers, took its turn.

  • 13 Mar 2019

• Taxonomy law in doubt as countries drag feet, conservatives weaken text

  

  Both the nature and timing of the European Union’s planned Taxonomy of Sustainable Economic Activities are in doubt. Conservative members of the European Parliament this week voted down an ambitious draft of the bill, and some nation states appear reluctant to push the Taxonomy bill through to the statute book before the European elections in May, writes Jon Hay.

  • 14 Mar 2019

all corporate bond league tables