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Proceeds earmarked to refinance upcoming maturity
◆ Strong demand for first sterling bond under Andy Burnham's government ◆ Deal navigates market vol ◆ Concession small, but investors attracted to spread
◆ French real estate group prints seven year bond ◆ Covivio skips guidance and tightens spread sharply ◆ Investor selectivity returns as orders fall
Bifurcation is emerging in how investors treat the hyperscalers
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The European high yield market looks bound to end the third quarter of this year with a flourish as the volume of September primary sales approaches the €10bn mark, some €2bn more than for June and July combined.
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Taiwanese electronics company Foxconn (Far East) has set its sights on a dual-tranche dollar offering, launching the bond on Wednesday morning in Asia.
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Italian oil and gas company Eni jostled with four other issuers on one of the European corporate bond market's busiest days of the year as it issued a dual tranche offering on Tuesday.
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National Grid Gas printed a £3bn ($3.97bn) jumbo transaction that exceeded even its own expectations this week as sterling investors demonstrated a phenomenal capacity to absorb corporate paper.
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The European corporate bond market stalled on Monday as autumn supply widened in sympathy with volatile government bond markets.
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German real estate firm VIB Vermoegen is in the market for a €60m Schuldschein. Not only is a property borrower a rare sight in the market but the deal also raises questions about the subordination of Schuldschein debt.