Top Section/Ad
Top Section/Ad
Most recent
◆ 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
More articles/Ad
More articles/Ad
More articles
-
Investors piled into European corporate hybrids again on Tuesday, with Belgian chemical firm Solvay and Austrian oil company OMV out with well received trades. -
Vodafone, the UK telecoms company, blasted the cobwebs off Europe’s corporate bond market on Monday with the first benchmark issue in August, launching a dual tranche hybrid capital issue that garnered €7bn of demand at guidance and was priced flat to its curve, as investors snapped up higher yielding paper.
-
Finnair, the Finnish airline, is looking to print up to €200m of debt to pay for a tender offer on its first call October 2020 hybrid notes.
-
OMV, the Austrian oil company, plans to print €1.5bn of hybrid debt in the coming 12 months, and some investors say they expect to see more subordinated corporate issuance as issuers try to patch up their Covid-19 ravaged balance sheets.
-
The new green hybrid bond from Dutch utility Tennet was trading tighter on Thursday, quelling suggestions from bankers off the trade that the deal’s oversubscription level was an indication that it would underperform.
-
The new green hybrid bond from Dutch utility Tennet was trading tighter on Thursday, quelling suggestions from bankers off the trade that the deal’s oversubscription level was an indication that it would underperform.
