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GC Asia
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Akelius and British Telecoms have rip-roaring time in hybrid market
Akelius Residential Property, the Swedish property company, and British Telecommunications ratcheted in the yields on their hybrid capital issues by 50bp and 60bp respectively this week, as the market clamoured for yield.
13 Feb 2020 -
AT&T brings preferred hybrids to eager European bond market
US telecoms company AT&T brought a new type of hybrid deal to Europe’s corporate bond scene this week, as dwindling spreads created seemingly contradictory sweet spots for issuance across the market.
13 Feb 2020 -
AT&T brings US preferred structure to European hybrid market
AT&T, the US telecoms company, broke new ground in the European bond market on Wednesday by issuing a €2bn perpetual non-call five year preferred security.
12 Feb 2020 -
Hybrids have become a savvy corporate treasurer's dream structure
Hybrid capital bonds are the flavour of the month. Their roaring success this week and the absence of any clear event that will knock them off their perch means they will quite likely prove the flavour of the year.
11 Feb 2020 -
BT phones ring off the hook for €500m hybrid
British Telecommunications joined the red hot hybrid capital market on Tuesday, tightening the yield on its new bond by around 60bp during execution as investors clamoured for returns.
11 Feb 2020 -
Akelius smashes expectations as BT and AT&T join hybrid fray
Akelius Residential Property, the Swedish property company, ratcheted in the yield on its hybrid capital issue by 50bp on Monday, setting the stage for a romping week of similar issuance as further names line up deals.
10 Feb 2020 -
Telefonica's double does double in virus fearing market
Telefonica, the Spanish telecommunications company, issued senior and hybrid bonds in euros on Monday. While it picked a horrendous day for markets for its offer, Telefonica still managed to pay small or negative price concessions relative to its secondary curve.
27 Jan 2020 -
SBB’s €500m hybrid offers yield-starved investors respite
Samhällsbyggnadsbolaget i Norden (SBB), the Swedish social infrastructure and residential property investment company, launched a hybrid capital bond on Thursday, offering investors the chance to pick up junk rated paper from an investment grade issuer.
23 Jan 2020 -
SBB lines up hybrid capital in eager market
Samhällsbyggnadsbolaget i Norden (SBB), the Swedish social infastructure and residential property investment company, has mandated banks to lead a €500m no-grow perpetual non-call 5.25 year hybrid capital bond issue. Bankers off the trade expect it to fly.
22 Jan 2020 -
Corporate green bond issuance hits record levels
The European socially responsible investment corporate bond market has made a rampant start this year, with issuance in the first two weeks already more than 10% of the total issued by companies in European currencies in 2019.
16 Jan 2020
