Top Section/Ad
Top Section/Ad
Most recent
High yields and tight senior/sub spread fuel enthusiasm for issuance among investors and issuers
◆ German utilities firm debuts hybrid bonds weeks after first senior deal ◆ Books shrink as issuer pushes tight ◆ Trade lands inside peers
◆ Swisscom pushes senior/sub spread close to record tights ◆ Tennet Germany lines up debut hybrid ◆ Hybrid volumes run ahead of 2025
◆ Books sticky throughout execution ◆ Debut deal lands tight ◆ Commitment to single-A rating drives first time trade
More articles/Ad
More articles/Ad
More articles
-
French hotel company Accor launched new hybrid and senior bond issues on Thursday after announcing the deals at the end of last week. The new deals finance tender offers for some of the company’s existing hybrid and senior notes. -
Following the success of Engie’s green hybrid bond the previous week, the French energy company’s Portuguese peer, EDP, launched its own version on Wednesday. While EDP’s deal did not achieve quite the same demand or tight pricing, the result was still a good one.
-
A year on from selling its first green hybrid bond, French energy company Engie returned to sell another with a slightly longer call date. Demand for the product has remained strong, but the difference in coupons showed how pricing has changed despite the borrower paying virtually no premium over the company’s secondary bonds.
-
Italian energy company Enel failed to notify investors it would call its 6.5% hybrid corporate bonds by the date required, due to a “procedural issue.” The company still intends to offer noteholders the opportunity to redeem the notes at par via a tender offer, but it may find few takers.
-
Belgian chemicals manufacturer Solvay sold its first public corporate bonds for three years on Tuesday when it reopened the European hybrid bond market, which has not seen a new issue since September. Despite the recent dearth of issuance, the market is still set to record an increase of more than 57% on 2017’s total volume.
-
After another volatile week, during which primary issuance went from hero to zero and the secondary market tumbled, Asian bond bankers are preparing for what they hope will be a busy last few weeks of the year — possibly until the very last working day of 2018, writes Addison Gong.
