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A pair of Italian utilities want to increase their use of privately placed bonds after using the format for the first time this year, while a major Italian investor has also revealed its growing love of the format.
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Otto Group, the German online and catalogue retailer, raised €20m on Monday with a privately placed note that carried its lowest coupon ever.
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Otto Group, the German online and catalogue retailer, raised €20m on Monday with a privately placed note that carried its lowest coupon ever.
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Icelandic renewable-energy company Landsvirkjun sold its first bonds without a government guarantee this week and is keeping an eye out for further opportunities to build its unguaranteed presence.
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Infrastructure companies are building a larger presence in private placements and, with investors’ interest piqued by increased government spending on transport and other vital services, euro medium term note dealers are confident that the burgeoning market could grow further, writes Craig McGlashan.
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Landsvirkjun, the state-owned Icelandic power company, has marked another step forward for the return to capital markets of the country’s issuers with a new $1bn euro medium term note programme. The issuer hasn’t sold a deal since 2011 but has received investor enquiries and is keen to come off its $2.5bn government guaranteed programme.