Crédit Agricole
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The African Development Bank (AfDB) said that it intends to enter the social bond market and will be roadshowing its social bond framework beginning October 19, it said this week. -
Don’t write an obituary for the dim sum bond market just yet. BOC Aviation and BMW showed there are still signs of life this week, pricing a pair of three year bonds that added variety to a market that clearly needs it.
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FIG bankers say that Germany’s Commerzbank is unlikely to remain a standalone entity forever. But a tie-up for the bank is firmly in the realm of fantasy M&A for now, writes David Rothnie.
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Empark, Vallourec and Dufry met strong demand for their new high yield bonds this week as investors opened their deep pockets.
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The Development Bank of Japan has managed to yank the spread in by 8bp for its third sustainability bond on Wednesday, which was still more than three times subscribed.
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BOC Aviation and BMW set out to sell offshore renminbi bonds on Wednesday, marking a return to the market for both issuers.
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The African Development Bank (AfDB) announced on Monday that it intends to enter the social bond market and will be roadshowing its social bond framework beginning October 19.
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Europe’s leveraged loan market was set for more than €4bn of offerings this week, as borrowers revel in friendly pricing conditions. Large facilities such as the €1bn loan for DomusVi that was launched on Monday could achieve the tightest prices, said bankers.
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On Monday, Statnett, the Norwegian state electricity grid company, mandated banks for its debut benchmark bond issue in euros. This followed German power utility RWE announcing the results of its recent tender offer on Friday.
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Italian auto finance bank FCA Bank on Wednesday opted to go for a short maturity for the lowest cost of funding for its latest bond issue. A €800m three year deal achieved just that, pricing with barely any new issue premium.
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French optician Alain Afflelou is considering a yield of about 4.5% for its first bond since suspending plans to float on the Paris bourse. Investors branded the figure “punchy”.
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On Thursday the European corporate bond markets had two new telecoms deals to consider. In the investment grade sector, unrated French issuer, Iliad, equalled its largest and longest transaction to date. The seven year trade was the shorter deal on offer, with sub-investment grade Telecom Italia opting for a 10 year tenor.
