Hybrid

  • IG corps roar to life as dour mood lifts

    IG corps roar to life as dour mood lifts

    European companies piled into the bond market on Wednesday with a variety of deals that favoured duration, as buoyant sentiment returned after being sapped by the US Federal Reserve last week.

  • 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.

  • 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.

  • Lower rated IG corps opt for size over price

    Lower rated IG corps opt for size over price

    The two riskiest issuers in Europe’s corporate bond market on Wednesday both opted for size over pushing hard on pricing. Poste Italiane with its hybrid capital issue and crossover-rated Finnish nuclear power company Teollisuuden Voima priced bigger than expected deals.

  • Most Impressive Bank for Corporate Hybrid Capital — Citi

    The corporate hybrid market is on a tear, with post-Covid issuance in 2020 of €46.7bn, almost as much as in the two previous years combined, and volume for 2021 already reaching €19.8bn by mid-May. Citi has been on the top-line of 60% of the corporate hybrids issued since the start of the pandemic, leading €38.6bn out of a total €66bn, and on 38 tranches out of 75 issued.

  • Investors feast on trades in stuffed day for IG corporates

    Investors feast on trades in stuffed day for IG corporates

    Europe’s high grade corporate borrowers piled into the bond market on Wednesday to sell debt before the public holiday weekend in the UK. Investors showed no signs of indigestion on one of the busiest days of the year so far.