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◆ No bitter unrated taste as book grows throughout pricing ◆ Investors keen for household unrated names ◆ Price discovery needed
◆ Stellantis sees stronger demand for shorter leg of €1.25bn dual trancher ◆ RCI Banque prices €750m 5.2 year tightly ◆ Ford finds demand in short end sterling
◆ Big move for AkzoNobel, three months after last trade struggled ◆ Orders peak near nine times the deal size ◆ Deal comes through fair value
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More details about the financing structure Daimler will use after its trucks and buses business is spun-off and listed are emerging. The demerger will create two separate capital markets operations out of a company that has been Europe’s second largest corporate bond issuer of the past decade. -
Deutsche Lufthansa deferred the coupon on its hybrid debt, surprising the market and sending the bonds spiralling down almost nine points. The company said the decision came as the coupon payment would have violated state aid rules in relation to Lufthansa’s bail-out from the German government.
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Singapore has set up a new task force to give a fresh push to its green financing ambitions, rolling out initiatives and putting more focus on climate-related disclosures from financial institutions. Morgan Davis reports.
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Foreign ownership of Chinese domestic bonds has hit an all-time high of over Rmb3.6tr ($562bn) — an impressive number but one that warrants a much closer look.
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Europe’s corporate bond buyers shied away from riskier deals on Wednesday as equity markets plunged, leaving a junk rated hybrid from SES to limp over the line while other credits fared better.
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French technology manufacturer Mersen has sold US private placements, according to market sources. Investors are expecting more European corporates to tap the market in the coming months.
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