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◆ Two tranches in euros and one in sterling ◆ Combined peak books top €19bn ◆ Investors paid up with chunky sub/senior spreads
Elevated NIPs not to be uniform, with some sectors set to pay more than others
◆ Deal is the fourth EuGB labelled hybrid ◆ Issuer punches through fair value... ◆ ...and gets its tightest senior/sub spread
◆ Energy pair bring three tranches ◆ Sub-100bp senior/hybrid spreads secured ◆ Single digit concessions offered
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◆ Records smashed in primary markets but what's driving it? ◆ Why order books are so swollen ◆ Rampant demand but companies want to cut hybrid debt -
Steep rise in hybrid yields makes companies look for ways out of replacement obligation
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Singapore’s ST Telemedia Global Data Centres last week issued a rare instrument: a sustainability-linked hybrid capital bond. Nelson Lim, the company’s CFO, explains why
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From top rated credits to subordinated debt, Nestlé, Enel and EnBW found success on Tuesday
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Deal by Singapore’s ST Telemedia shows KPI-linked sub debt can work
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IG corporate investors mostly dread central bank missteps, according to BofA survey
