Hybrid

  • Winners and losers in Abertis and Wintershall hybrids

    Winners and losers in Abertis and Wintershall hybrids

    The prickly start to the year continued in Europe’s corporate bond market on Wednesday, as hybrid issues for Spanish toll road firm Abertis Infraestructuras and German oil and gas firm Wintershall Dea received opposite reactions from investors.

  • Investors see opportunity as hybrid spreads lag senior

    Investors see opportunity as hybrid spreads lag senior

    European high grade corporate bond investors and analysts have spotted an area that might be ripe for performance next year, as senior notes inch towards pre-coronavirus pandemic levels but subordinated spreads have yet to catch up.

  • SBB pays negative concession on social and hybrid duo

    SBB pays negative concession on social and hybrid duo

    Samhällsbyggnadsbolaget i Norden (SBB), the Swedish social housing company, ploughed through fair value on Tuesday with a debut social bond and return to the hybrid market, as tightening spreads encourage investors to keep their wallets open deeper into December.

  • Grand City brings rare December hybrid

    Grand City brings rare December hybrid

    Grand City Properties, a German real estate company, opened books on a hybrid trade on Thursday, leaving some corners of the market surprised that investors would still be open to taking on high beta assets this late in the year.

  • Engie and National Express keep Europe’s hybrid high buzzing

    Engie and National Express keep Europe’s hybrid high buzzing

    Engie, the French electricity and gas company, and UK transport firm National Express enjoyed bumper demand for hybrid capital issues on Thursday, as some market participants argued the coronavirus pandemic had changed the way hybrids are seen by issuers.