Crédit Agricole
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Chinese issuers are storming the debt market this week, with Tuesday seeing the Export-Import Bank of China (Chexim), Shanghai Commercial Bank and Oceanwide Holdings Co among the borrowers enticing investors. -
Unédic has announced that it intends to sell a seven year benchmark from its unguaranteed Neu MTN programme on Tuesday, in what is likely to be the borrower’s final benchmark of the year.
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The Export-Import Bank of China (Chexim) is holding investor calls on Monday for its third offshore transaction of 2017, opting again for a combination of dollars and euros, and possibly its first 30 year dollar bond.
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French toll road operator Holding d'Infrastructures de Transport paid a hefty premium on Friday as it sold a dual tranche bond to help refinance its March 2018 note.
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The social bond market — though still nascent — is rapidly gaining momentum. Three public sector issuers made their debuts in the market this week, all of which met with enthusiastic approval from Europe’s community of dedicated socially responsible investors.
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The supply of hybrid bonds continued this week, with an additional feature — both hybrids sold this week were certified as green bonds.
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Gazprom this week sold its first euro denominated bond of the year, a €750m seven year, with a new issue premium that a lead manager has estimated at only 0bp-2bp.
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Bank of China's Paris branch raised almost $1.5bn across three currencies and tranches on Wednesday, marking the fifth offshore green bond from China this year. Concord New Energy had contrasting success and pulled out of a planned deal.
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Cores, Spain’s strategic oil reserves manager, has returned to capital markets for the first time in two years, defying Spain's political turmoil to raise €400m while slashing 7bp from its initial spread.
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Russian state owned giant Gazprom released initial price thoughts for a euro seven year bond on Wednesday morning at a level that bankers away from the deal said was around 20bp back of the company’s curve.
