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Snam draws lukewarm response for transition bond

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Snam draws lukewarm response for transition bond

Snam, the Italian energy infrastructure company, managed only a tepid reaction from the market on Thursday with a 10 year transition bond, as highly rated names continue to find it tough to get full throated support at such tight levels.

Corporate Bonds News Archive

  • Orange dials in conventional dual tranche, bides time on SLBs

    Orange dials in conventional dual tranche, bides time on SLBs

    Orange, the French telecoms company, launched €1.5bn of conventional bonds in two tranches on Wednesday, as the company’s group treasurer said he was waiting for the sustainability-linked bond market to mature before joining the quickly growing debt niche.

  • Virgin Media O2 sells green high yield notes

    Virgin Media 02, the joint venture of Virgin Media and O2, has sold £1.13bn-equivalent of sterling and dollar notes, refinancing a set of bank loans signed ahead of the 50:50 merger, which finally closed earlier this month.

  • Air France-KLM prepares bond market return

    Air France-KLM prepares bond market return

    Air France-KLM is preparing to return to public funding markets, as the group comes off life support and contemplates its post-pandemic capital structure, bloated by €10bn of state aid measures during 2020. The airline has been marketing a €600m dual tranche three and five year issue, which is set to be priced on Thursday, as it predicts running at over 60%-65% of 2019 capacity during the summer.

  • Green CNH market gains steam with Zhenro, KfW

    Green CNH market gains steam with Zhenro, KfW

    The green dim sum bond market saw a small jump in action on Tuesday, with high yield issuer Zhenro Properties Group selling a short-dated deal and German development bank KfW reopening one of its existing notes.

  • Vattenfall prints sterling green hybrid inside euros

    Vattenfall prints sterling green hybrid inside euros

    Vattenfall, the Swedish electricity company, powered through its euro hybrid capital funding levels with a debut sterling green hybrid this week, as the sterling market continues to provide ample support for borrowers.

  • PMM: Premiums fall but greenium squeezed

    PMM: Premiums fall but greenium squeezed

    There was a clear shift in pricing dynamics last week with larger movements from initial price thoughts, across all sectors but particularly in the markets that carry higher inherent risk. At the same time though, real estate companies drove up the average concession paid in the corporate sector, but that measure fell in the rest of the primary market.

  • Essentra launches PPs as diversity returns to market

    Essentra launches PPs as diversity returns to market

    UK speciality fibres and plastics maker Essentra has launched a private placement in what is the second deal from a listed UK corporate to hit the market in a matter of weeks. Market sources say more corporates, including some utilities, are set to return to the instrument after a dry spell since the coronavirus pandemic began.

  • Hopson squeezes price on $200m bond

    Hopson squeezes price on $200m bond

    Chinese real estate company Hopson Development Holdings returned to the offshore bond market for the fourth time this year on Monday, this time taking an aggressive approach to pricing its $200m deal.

  • Origin promises instant ISINs with new feature

    Origin promises instant ISINs with new feature

    Bond market fintech company Origin has teamed up with clearing house operator Clearstream Banking to launch an “instant ISIN” feature to allow the automated allocation of codes to Eurobonds from frequent issuers.

  • Gazprom shoots for Swissies

    Gazprom shoots for Swissies

    Gazprom is set to access the Swiss franc market this week to sell its first trade in the currency for over three years.

  • Asia's bond market turns quiet

    Asia's bond market turns quiet

    Asia’s dollar bond market is set for another relatively muted week for deal flow as pressure on China’s real estate industry and the US Federal Reserve’s surprisingly hawkish tone recently slow issuance.

  • Telus preps Canada’s first SLB, Enbridge to follow

    Telus preps Canada’s first SLB, Enbridge to follow

    Canadian telecommunications company Telus is set to print the nation’s first sustainability-linked bond, after launching its framework earlier this week. Fellow Canadian Enbridge could join Telus: the oil pipeline operator published its SLB framework on Thursday.

  • PP market awaits Anglian Water with bated breath

    PP market awaits Anglian Water with bated breath

    Anglian Water has announced its intention to issue a fresh private placement under a new financing structure. Utilities, once stalwarts of the market, have been few and far between in the last 18 months as PPs have struggled to compete with public bonds on price.

  • Sino-Ocean pushes out curve with bond return

    Sino-Ocean pushes out curve with bond return

    Sino-Ocean Capital Holding has raised $500m from a two year bond. The deal was the company’s longest in the offshore market, but came with a weaker structure than its past outings.

  • ECB’s Schnabel hints at shape of green QE

    ECB’s Schnabel hints at shape of green QE

    The pace at which central banks are accelerating towards skewing monetary policy to support the fight against climate change was brought home this week by a speech by Isabel Schnabel, an executive board member at the European Central Bank, in which she went further than ever before in calling for strong action and hinted at how the ECB might do it.

  • Raiffeisen returns to Swissie AT1

    A reverse enquiry from an institutional investor drove Raiffeisen to reopen its Swiss franc additional tier one (AT1) note this week, which was bumped up even further by demand from retail buyers.

  • Heimstaden Bostad takes advantage of yield thirst with hybrid

    Heimstaden Bostad takes advantage of yield thirst with hybrid

    Heimstaden Bostad, the Swedish housing company, had a trickier time in the market with its hybrid capital issue on Thursday than Poste Italiane had a day earlier, suggesting that there is still some sectoral sensitivity among yield-hungry corporate bond buyers.

  • Wipro dials into dollar market for first time

    Wipro dials into dollar market for first time

    Wipro, an Indian information technology business with global reach, sold its first dollar bond this week. The $750m trade catered to international investors already familiar with the company and its credentials.

Corporate Bonds News Archive

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