Crédit Agricole
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La Banque Postale is looking to strengthen its capital position with a new additional tier one bond, beginning investor meetings on Friday. The issuer joins a growing trend towards issuers employing six month par call options in their perpetual securities. -
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China’s Ministry of Finance has raised €4bn from a three tranche deal, returning to the euro market after 15 years away. The bond is expected to encourage Chinese issuers from across the credit spectrum to tap the euro market, writes Addison Gong.
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The Swedish Export Credit Corp printed a $1.25bn three year global benchmark bond on Wednesday, tightening the spread to land flat to its curve and aided by a favourable move in swap spreads.
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The first tier two from Spain’s Unicaja Banco was more than three times subscribed this week after it entered a strong new issue market. It appeared alongside ING, which paid a slim 5bp premium to print a deal in the same asset class.
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Russian pulp and paper producer Ilim Group has launched syndication to refinance a $500m loan, according to bankers. The loan is one of the last expected to be signed in Russia's international syndicated market this year.
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China’s Ministry of Finance has raised €4bn from a three tranche deal, returning to the euro market after a 15 year layoff. Bankers think the deal will encourage Chinese issuers from across the credit spectrum to come to the euro market.
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The Province of Alberta came to market on Tuesday for a five year dollar global bond, paving the way for the Swedish Export Credit Corporation (SEK), which announced that it will hit the three year bucket on Wednesday.
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A flurry of new deals this week had issuers having to compete for investors’ attention. Bankers said that higher yielding deals were much easier to sell, with non-preferred senior bonds from Bankia and Lloyds Banking Group proving more popular than a tighter print from Belfius.
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Royal Bank of Scotland is preparing to sell its first social senior bond from its holding company, giving investors a rare chance to add exposure to a UK issuer in the format.
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Australia & New Zealand Banking Group (ANZ) is getting ready to offer FIG investors a very rare chance to purchase green bank capital in euros, with the issuer set to hit the road for a new tier two in November.
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The holding company of the Bolloré billionaire family is planning to issue an unspecified amount of unsecured notes. Their largest investment, a 26% stake in media giant Vivendi, will be excluded from some of the covenants designed to protect the investors.
