Latest high grade corporate bond news

• FCA Bank benefits from slower start to 2019

  

  Italian auto finance bank FCA Bank found the feelgood factor in full effect on Friday as market participants suggested it priced a new three year deal more than 40bp tighter than if it had sold the same deal at the start of the year.

  • 15 Feb 2019

• ASF sees plenty of traffic for new 12 year

  

  French toll road operator Autoroutes du Sud de la France found plenty of investors willing to buy the issuer’s first corporate bond sale of 2019. The demand allowed the company to tighten the spread it was offering by 22bp through the marketing process and price the deal in line with its existing curve.

  • 15 Feb 2019

• Investors swoon after dollar market love-in

  

  The US corporate new issuance calendar took a breather on Thursday after clocking up its busiest week of the year with $30bn of supply in just three days. Borrowers remained on the sidelines as investors digested the supply onslaught that brought bulging order books and tight pricing.

  • 14 Feb 2019

• Greene King barrel tapped for £250m

  

  Greene King is planning to tap its Greene King Finance ‘pub securitization’ by issuing £250m of fixed rate notes following a three day roadshow that kicked off on Wednesday.

  • 14 Feb 2019

• Nordic telecoms companies reap the benefits of no-grow strategies

  
  • 14 Feb 2019

• Juve banks on its history to rationalise its future

  

  Record breaking Italian football club Juventus made its debut in the corporate bond market on Wednesday. It used the Agnelli family’s involvement in the ownership and running of the club for nearly a century to market the bond, but Italian football clubs do not have a great financial track record, writes Nigel Owen.

  • 14 Feb 2019

• Welsh housing association debuts in PPs

  

  Grŵp Cynefin, a housing association that manages properties in north Wales, has issued an inaugural sterling debt private placement.

  • 14 Feb 2019

• Barry Callebaut plumps for safer Schuldschein, reaps big harvest

  

  Barry Callebaut has taken €600m across three tranches in one of the biggest international Schuldschein transactions in the last 12 months. The Belgian-French chocolate company now based in Switzerland had roadshowed for a public benchmark sustainable bond in November, but opted instead for its first Schuldschein deal, as the risks of execution in the public market were too great.

  • 13 Feb 2019

• Sixt enters Schuldschein for second time in six months

  

  German car leasing company Sixt has launched a Schuldschein with an initial size of €200m, according to two Schuldschein market participants.

  • 13 Feb 2019

• The Navigator signs first sustainable CP programme

  

  Portuguese paper company The Navigator has become its country’s first company to set up a sustainable commercial paper programme. The €65m operation was announced by its agent bank and bookrunner BBVA.

  • 13 Feb 2019

• Triple-B corporate bond storm worries overblown, say investors

  

  One of the most covered aspects of the bond market by more mainstream media in recent months has been the value of triple-B rated corporate debt due to mature in coming years and what problems that might cause in the event of an economic downturn. However, this has prompted investors to start to quell any fears of these risks.

  • 13 Feb 2019

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