Crédit Agricole
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A European sovereign and agency have opted to bring euro benchmarks at the long end of the curve on Tuesday, after hiring lead managers on Monday. -
Air France KLM has hired five banks for a potential hybrid bond issue, as the unrated, high yield airline's €661m convertible bond approaches maturity.
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Crédit Agricole wowed the dollar market with its tier two dollar offering this week, enjoying huge demand and tight pricing despite challenging market conditions.
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The race to fulfil Total Loss Absorbing Capacity (TLAC) requirements has begun for Europe’s banks, illustrated most recently by Crédit Agricole’s €3bn equivalent two tranche tier two bond this week, writes Graham Bippart.
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Issuers across the credit spectrum were seen in covered bonds this week with Münchener Hypothekenbank pricing the tightest 10-year deal ever while Bankia priced a 10 year with one of the widest spreads seen this year.
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Sappi, the Austrian-South African paper maker, on Thursday priced its €450m of senior secured bonds inside price guidance, into a high yield market with solid demand this week.
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Mandated lead arrangers and bookrunners Crédit Agricole, Natixis and Société Générale have begun placing a €400m loan to support a Chinese conglomerate's buyout of Club Méditerranée.
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Dutch insurer NN Group enjoyed a favourable reception for its debut senior print on Wednesday, shaking off any concerns about a weaker secondary market to attract a comfortable oversubscription.
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Finland's Neste Oil has issued a €500m seven year bond after increasing the size in response to investor demand.
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British motorway service area operator Moto on Wednesday priced a £175m five year non-call two year second lien bond to yield 6.375%, with which it will redeem a CCC+ rated issue sold in 2011.
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Austrian-South African paper maker Sappi will begin on Wednesday in London the roadshow for its €450m of senior secured notes.
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Indian company JSW Steel, which hit the syndicated loan market in November 2014 for a $250m five year bullet, has attracted commitments from four lenders in general syndication. One more bank is due to come on board soon.
