Crédit Agricole
-
Tata Motors’ £640m ($839m) refinancing has been launched into general syndication after the senior phase was completed this month. -
French toll road operator Holding d’Infrastructures de Transport paid a hefty premium last Friday as it sold a dual tranche bond to help refinance its March 2018 note. The Baa3 rated subsidiary of Spanish infrastructure company Abertis suffered from the uncertainty surrounding a takeover of its parent company.
-
Once the unwavering bastion of eurozone strength, stable through an otherwise turbulent year, the German government managed to unsettle the euro market this week. The collapse of the German coalition talks at the weekend forced one SSA borrower to adjust its plans on the fly and was partly blamed for two borrowers’ failure to fill their order books. Lewis McLellan reports.
-
Two of the three SSA euro syndications this week found the market tough going, relying on lead managers to fill orderbooks. Some SSA bankers lay the blame, in part, on the collapse in German government coalition talks at the weekend.
-
-
-
Yankuang Group Company has become the only issuer from Asia ex-Japan to venture into the dollar market on Thursday, a US holiday for Thanksgiving. But many other Chinese issuers are waiting in the wings, with a flurry of mandates announced.
-
Bpifrance on Wednesday became the second euro borrower to fail this week to reach full subscription, selling a €500m deal from a book of around €425m.
-
Export-Import Bank of China (Chexim) extended its curve with a 30 year dollar bond on Tuesday, part of a multi-tranche deal in which it raised a hefty $3.275bn in two currencies.
-
Unédic completed its funding programme for 2017 with a seven year benchmark on Tuesday, selling into a market eager for French paper. Bpifrance will look to capitalise on the same appetite after mandating for a Wednesday deal.
-
Four new investment grade corporate bond issues in euros and one in sterling ensured European investors were much busier on Tuesday than they had been on Monday.
-
GAC-Sofinco Auto Finance completed a Rmb4bn ($603.6m) asset-backed securities transaction on Monday, its first in China since 2014. The originator focused on tight pricing, thereby snubbing investors vying for a bargain, but it still gained the support of accounts familiar with its business.
