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
-
Australian energy firm AusNet Services started attracting bids for a 60 non-call 5.5 year subordinated offering on Monday. The hybrid issuance is denominated in Singapore dollars and marks the company’s first outing in the currency. -
Cheung Kong Infrastructure Holdings (CKI) made a strong comeback to the dollar hybrid bond market on Monday with a perpetual non-call five. Despite the tight pricing and a structure that some considered weak, investors were keen to participate thanks to the borrower’s credentials and a lack of supply in the primary market.
-
Cheung Kong Infrastructure Holdings (CKI) is on track for a comeback to the dollar hybrid bond market, while India’s National Thermal Power Corp kicked off bookbuilding for a 10 year Reg S offering on Monday.
-
Four companies have still not had the equity content of their hybrid bonds restored since Standard & Poor’s stripped the credit from the instruments in October.
-
Finnish retail and property company Stockmann has issued an €85m hybrid capital bond, after announcing the deal on Tuesday.
-
South Korea’s Doosan Power Systems (DPS) bagged $300m from a hybrid bond on November 30, opting for a guarantee from Export-Import Bank of Korea. While it was a win-win for investors and the issuer, market participants are concerned about excessive use of the guarantee.
