Crédit Agricole
-
The burgeoning green bond sector took two important strides this week, as the European Investment Bank increased an outstanding deal to the largest volume on record and the African Development Bank entered the Scandinavian capital markets for the first time with its second ever green bond. -
-
Crédit Agricole’s fourth quarter results showed that the bank was feeling the positive effects of its cost reduction plan and business disposals that it conducted in 2013. This cost cuts affected the corporate and investment bank, with the capital markets and investment banking division, for example, experiencing a drop in revenues. Yet group revenues increased.
-
Russian borrowers have been conspicuous by their absence in the bond market this year, but that changed this week with three benchmark-sized transactions despite the awful events in Ukraine. The deals from Gazprom, Sberbank and Russian Agricultural Bank bode well for borrowers such as Russian Railways which is planning its own bond.
-
The European Stability Mechanism will sell its first benchmark deal of 2014 next week and SSA officials have their money on it being a seven year.
-
Corporate bond issuance is set to get busier again in Europe next week, bankers say, with a drive-by deal also possible on Friday.
-
Russian energy company Gazprom impressed debt bankers with a smoothly executed seven year euro transaction on Wednesday, which was sold with a minimal new issue premium to a range of investment grade accounts, said syndicate officials on the deal.
-
ThyssenKrupp launched a drive-by 5.7 year bond today (Wednesday) that attracted a book of more than €5bn, showing the keen demand for crossover credit.
-
Crédit Agricole’s fourth quarter results showed that the bank was feeling the positive effects of its cost reduction plan and business disposals it conducted during 2013. This cost-cutting affected the corporate and investment bank, which experienced a drop in revenues, although group revenues increased.
-
Darty Financements has released price guidance for its €250m debut high yield bond. The UK-listed electrical retailer with large operations in France aims to price its seven year bond this afternoon.
-
Gazprom opened books on a seven year benchmark euro transaction on Wednesday morning. Bankers on the deal felt the starting concession was a modest 10bp-15bp, but those off the deal argued the issuer had started with a more generous pick-up.
-
Euro deals attracted cash from fresh sources this week, boosting book sizes in what was a bumper week for borrowers in Europe’s core.
