Crédit Agricole
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Alstom, the French maker of trains and railway equipment, has struck a €7.45bn deal to acquire Bombardier’s trains division and will partly finance the trade via a €2bn rights issue later this year or in early 2021. -
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Oil and natural gas company Pertamina sold Indonesia's first 40 year dollar bond on Thursday. Investors flocked to the long dated paper, sold as part of a two-tranche transaction, pushing orders to more than $3bn for the $800m portion.
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BMW issued the largest unsecured MTN of the year on Wednesday — outstripped in size only by a €700m privately placed covered bond from UniCredit, according to Dealogic. The trade was BMW’s largest since 2016.
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Société du Grand Paris hoovered up strong demand this week to sell the longest ever public syndicated green bond. The French agency was joined by three other public sector borrowers in raising socially responsible bonds this week, including the first European city to issue a social-labelled bond.
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The UK’s Gerald Group has signed its annual dollar revolving credit facility, with the metals trader growing the size of its banking group and increasing the size of its deal to $253.5m.
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Société du Grand Paris impressed the SSA market on Tuesday with a series of superlatives. It sold its biggest ever bond with the longest ever maturity for a syndicated green bond in any asset class. The City of Munich hit another landmark with the first social bond from a European city.
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The euro market had no trouble digesting a pair of similar trades from Landesbank Baden-Württemberg (LBBW) and Svenska Handelsbanken this week, with both banks printing non-preferred senior bonds at 58bp and paying a small new issue premium to investors.
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Right Lane, a wholly-owned subsidiary of Chinese conglomerate Legend Holdings, has returned to the market for a $350m loan.
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Two European borrowers hit screens on Monday morning at the short end of the euro curve, with a third set to follow suit on Tuesday as issuers. Both of Monday’s deals received extraordinarily strong demand.
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Société du Grand Paris and the City of Munich will break new ground in the socially responsible bond market this week as the pipeline for green and social debt from public sector borrowers builds.
