Crédit Agricole
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Spanish IT company Amadeus will complete its €500m revolving credit facility later this week with some changes to its bank group, according to a banker familiar with the deal. -
Bank Muscat has released initial price thoughts for its benchmark five year bond, equating to a new issue premium of around 35bp.
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India’s third largest private lender Axis Bank has wrapped up its latest, self-arranged loan at $300m.
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Italy wowed the market on Tuesday with the second blow-out 20 year sovereign benchmark in as many weeks, as bankers tipped other issuers to try out the unconventional maturity.
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Books were several times oversubscribed and new issue premiums often dropped to zero this week, ahead of an ECB move that was widely expected — but everybody is aware that market backlashes do happen.
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Vallourec’s €480m rescue rights issue is heading for a successful conclusion on Friday April 22, bankers working on it said this week.
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Covered bond activity slowed this week with only three deals emerging, half the number seen in the prior week, with Canadian issuers at the fore.
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France’s largest property firm, Unibail-Rodamco, issued a €1bn dual tranche bond on Wednesday that included only the third 20 year corporate bond in euros this year.
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Several covered bond issuers have removed the swaps in their covered bond programmes in the face of onerous regulatory obligations. This has improved their funding efficiency and given investors a less risky, more transparent and potentially higher yielding product. Others should follow.
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The Export-Import Bank of China (Chexim) attracted high quality non-Chinese bidders for its dual currency, triple tranche offering this week. The response shows that demand remains high for mainland credits despite concerns about the country’s growth.
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Several covered bond issuers have removed the swaps in their covered bond programmes, in the face of onerous regulatory obligations. This has improved their funding efficiency and given investors a less risky, more transparent, and potentially higher yielding product. Others should follow.
