Crédit Agricole
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Respite from a two week old rout in eurozone government bond yields allowed two public sector borrowers on Monday to venture out with mandates for long dated euro deals. But analysts warned that the sovereign bond sell-off could have more room left to run. -
A special purpose vehicle under India’s Greenko Energy Holdings is ready to market a dollar green bond, while Hong Kong’s Castle Peak Power Company is looking to sell what it is calling an energy transition bond.
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South Korean agricultural lender Nonghyup Bank began marketing a five year dollar transaction on Monday morning, returning to the debt market after about nine months.
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Carmila, the retail property owner and manager owned by Carrefour, has bagged €503m in a capital increase, after acquiring a listing earlier in June by merging with Cardety, a smaller French property company.
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Leveraged loan investors have recently started to win victories on deal terms, but on Thursday French engineering firm Socotec brought confirmation that market conditions are still in favour of borrowers. However, another of this week’s deals underlined the fact that investors can sometimes succeed in getting better terms.
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Instituto de Crédito Oficial (Ico) sold its third social bond on Monday, printing €500m of four year paper with what bankers on the trade said was a skinny new issue premium.
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Banco Santander has launched its €7.07bn fully underwritten rights issue to support its acquisition of the failed Banco Popular Español, saying it expects to make a return on investment on the deal of 13% to 14% by 2020.
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Instituto de Crédito Oficial sold its third social bond on Monday, printing €500m of four year paper with what bankers on the trade said was a skinny new issue premium.
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The European high yield bond market welcomed a bursting deal pipeline this week, leaving behind last week’s sabre rattling between investors and issuers.
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French property company Gecina latched on to the latest trend for issuance in the multi-tranche European corporate bond on Tuesday, with a short dated floating rate tranche following other issuers to have done the same recently.
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Dollar borrowers wrapped up their funding projects before the July 4 holiday weekend and dodged a global sell-off as central bankers pointed to the end of monetary stimulus.
