Crédit Agricole
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Europe’s high grade corporate bond market was busy this week, as slightly improved market conditions prompted a diverse set of issuers to lock in funding before the end of the quarter. -
BPER Banca overcame its sub-investment grade rating on Thursday, attracting plenty of demand for an inaugural social bond that will fund Covid-19 related lending in southern Italy.
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Europe’s corporate bond investors got stuck into unrated debt on Thursday, as German airport operator Fraport and French care home company Orpea printed bonds.
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BPER Banca and UBS ventured out into the euro market on Thursday. After a quiet few days, issuance is ramping up as rates volatility subsides, with bankers expecting a light shower of deals ahead of Easter.
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Tricor Holdings, owned by investment firm Permira, has brought a rare dividend recapitalisation deal to Asia’s loan market. Pan Yue reports.
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Financial issuance got underway in the euro primary market on Wednesday, with borrowers keen to bring forward ESG-labelled bonds in the first deals of the week.
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Europe’s high grade corporate bond pipeline is bulging this week, as slightly improved market conditions from last week have prompted a diverse set of issuers to lock in funding before the end of the quarter.
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A HK$5.5bn ($708m)-equivalent loan to partly refinance debt taken for investment manager Permira’s leveraged buyout of Tricor Holdings is now open to existing lenders in syndication.
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France became the latest European sovereign bond issuer to confront the problem of inflated orders with the sale of its second green OAT via syndication on Tuesday. But instead of bringing the spread in to price extremely tight like Italy and Spain did earlier in the year, France instead attempted to control the sale process by engaging with investors to persuade them not to put in excessive tickets in the first place. Burhan Khadbai reports.
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German state-owned development bank Kreditanstalt fuer Wiederaufbau (KfW) made a rare public green outing in the offshore renminbi market this week, raising Rmb1.25bn ($192m) from a deal that saw strong participation from green and ESG investors.
