GC Asia
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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 -
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.
14 Jan 2020 -
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.
16 Dec 2019 -
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.
28 Nov 2019 -
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.
27 Nov 2019 -
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.
21 Nov 2019 -
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.
18 Nov 2019 -
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.
08 Nov 2019
