Hybrid

  • SBB’s €500m hybrid offers yield-starved investors respite

    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.

  • SBB lines up hybrid capital in eager market

    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.

  • Corporate green bond issuance hits record levels

    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.

  • Arkema hybrid comes as investors pile into risk

    Arkema hybrid comes as investors pile into risk

    Arkema, the French chemicals company, has issued the second corporate hybrid capital bond in Europe in as many days. Bankers say investor appetite for higher risk securities is almost insatiable.

  • EDF cuts hybrid debt stock by 9%

    EDF cuts hybrid debt stock by 9%

    Power company Electricité de France has agreed to buy back almost €1.2bn-equivalent of its hybrid capital bonds, marking the end of a busy period for the company in the debt markets.

  • Sunshine in autumn as even late Nov yields bumper corporate crop

    Sunshine in autumn as even late Nov yields bumper corporate crop

    Companies surprised the European bond market this week by issuing nearly €8bn of bonds that sailed through the market, obtaining big orderbooks and requiring minimal price concessions. Bankers had thought the market was starting to look worn down for the year, and were not expecting as much supply. When it did come, they thought some of the deals would struggle.

  • Ørsted follows EDF... and so does EDF

    Ørsted follows EDF... and so does EDF

    Following Electricité de France's successful issue of a €500m hybrid capital bond on Tuesday, Ørsted, the Danish energy group, followed on Wednesday with a €600m hybrid, which is also a green bond. And EDF came back for a 50 year Eurodollar issue.

  • High yield tourists head first for hybrid

    High yield tourists head first for hybrid

    Unlike in 2016, investment grade bond buyers reaching for yield after the European Central Bank started buying eurozone corporate bonds have been heading first for longer-dated investment grade and subordinated bonds, rather than dipping down into high yield territory.

  • Lafarge thrives, but Citycon green hybrid is a tough sell

    Lafarge thrives, but Citycon green hybrid is a tough sell

    Three companies piled into the euro bond market on Monday, but the deals drew mixed reactions. Two standard investment grade issues from LafargeHolcim and Ford Motor Credit appeared to fare better than a rare green hybrid from Citycon paying a juicy yield.

  • Beijing Capital lands $500m from new sub perp

    Beijing Capital lands $500m from new sub perp

    Chinese government-owned Beijing Capital Group Co sold a $500m perpetual deal on Thursday, just a couple of weeks ahead of the scheduled call date of an old bond by its real estate arm.