Crédit Agricole
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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.
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Two green issuers from China are wooing buy-side accounts for new bonds, with Concord New Energy Group and Bank of China collecting investor orders from Wednesday morning.
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Three issuers launched social bonds on the same day on Tuesday, which is likely a first for the SSA market. They raised a combined €1.5bn across five, seven and 10 years, with two of the deals managing to make dramatic moves in pricing thanks to what one banker called "superb conditions".
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CVC and Ardian charged up the leveraged loan deal pipeline with new buyouts of European businesses in Ireland, Greece and Spain this week. A strengthening European economy is likely to attract more, said market participants.
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Investors in green corporate bonds had two very different deals offered to them on Tuesday. Spanish utility Iberdrola sold a green hybrid bond, while Toyota Motor Credit Corp, Toyota’s auto finance subsidiary, offered a long 3.5 year green tranche alongside a seven year non-green tranche.
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GAC-Sofinco Auto Finance is returning to the Chinese asset backed securities market seeking Rmb4bn ($602.9m) — its first outing since 2014.
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Bank of China has mandated firms to sell a multi-currency green bond through its Paris branch.
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UK telecoms firm Virgin Media increased its sterling loan offering on Friday, as recovering leveraged finance issuance in the currency seems to be leaving Brexit strains behind.
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China Development Bank Corp priced its maiden international green bond on Thursday, raising close to $1.7bn from a dual-currency transaction that will fund Belt and Road related projects. The deal offered diversification not only to the issuer but also to investors.