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◆ UK defence company returns after seven year absence ◆ Sticky book as investors seek rare sterling supply from the sector ◆ Deal pays only small single digit concession
◆ UK supermarket chain takes euro route ◆ Demand holds firm despite sharp spread tightening ◆ Small new issue concession on offer
Four tranche deal could raise at least €2bn
Only a handful of names tapped the market ahead of Independence Day
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Beijing Capital Group Co, which marketed a two-tranche deal on Monday, decided to ditch the planned perpetual note and instead price a larger senior tranche for cost reasons. -
Aroundtown, the Frankfurt-listed property company, opened 2021’s corporate hybrid capital issuance on Monday. More subordinated deals are already being lined up.
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Fundamentals are becoming more important again in Europe’s corporate bond primary market, but the power of the European Central Bank technical trade in the secondary market is quickly washing away any new issue concessions issuers have to give.
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Traton, the Volkswagen subsidiary which makes MAN, Scania and VW commercial vehicles, on Monday launched a sustainability-linked Schuldscheine with a minimum target of €400m. The first SSD deal of the year, Traton’s target size is a good indication the market is looking to make up ground it lost last year.
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EasyJet, the UK budget airline, has signed a $1.87bn-equivalent liquidity facility backed by the UK’s export credit agency, the second such guarantee it has given in recent weeks.
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New World Development Co printed Asia ex-Japan’s first sustainability-linked bond last week, raising $200m from the transaction. The Hong Kong-based property developer's deputy chief financial officer and its head of sustainability spoke to GlobalCapital Asia on Monday about why the firm ventured into this asset class and the challenges it faced.
