Crédit Agricole

Irish aircraft leasing group Avolon has attracted new lenders to its banking group to sign a $500m eight year secured syndicated loan.

Aluminium manufacturer China Hongqiao Group has opened up a $700m three year term loan to the market, pricing it at a generous 320bp over dollar Libor.

Spanish construction firm ACS has raised €405.6m through a five year bond exchangeable into Iberdrola shares less than six months since a similar €720m transaction exchangeable into the utility firm’s stock.

The heyday of the Spanish Cédulas market may be long gone with the product presenting something of a rare commodity in the primary market these days, especially at the long end of the curve. But this week investors got their chance to buy when CaixaBank issued Spain’s second only covered bond of the year and the second only 10 year in two years, even though the issuer admitted it did not need the funding.

The World Bank printed its first benchmark sized green bond in euros on Thursday, in a move that bankers predicted would spur further issuance of the product in the currency.

Areva, the French nuclear power construction group, issued a €750m nine year bond on Wednesday that was solidly oversubscribed, but was not the blowout enjoyed by Teollisuuden Voima a week ago.

Pernod Ricard, the French distiller, launched a benchmark long six year bond on Thursday that found strong demand, despite a weak market, with European stocks closing down 1.5%.

State Bank of India is due to launch a $390m loan into syndication soon, increasing the size from the original $300m. At one point the loan was on track to be $420m, but this was scuppered when one lender dropped out of the top level.

Areva, the French nuclear power construction group, issued a €750m nine year bond today that was solidly oversubscribed, but was not the blowout enjoyed by Teollisuuden Voima a week ago.

Far Eastern Group is expected to formally mandate a group of five banks next week to lead its $400m five year loan, down from the seven that were frontrunners in early January.

The senior unsecured market started with a bang on Monday, despite the European market softening late on Friday.

Shinhan Bank is to commence a series of investor meetings on Thursday. Bankers say that a 144A/Reg S transaction may follow.