Crédit Agricole
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Bank of China (BOC) raised $1bn from a dual tranche transaction at a negative premium on Thursday, after strong demand from its large syndicate group. -
Lenders to Wirecard, the embattled German payments company, will have to decide whether to call in its €1.75bn syndicated loan, after its auditor EY refused to sign off its 2019 accounts, which the company announced on Thursday, sending its share price into a spiral. Markus Braun, the company's CEO, resigned on Friday.
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After making its highly anticipated debut in the international capital markets with a dollar benchmark this week, New Development Bank is looking to build a diversified funding programme, with euro and sterling-denominated bonds on the agenda for 2020. The new supranational has also set itself a target to become a triple-A rated issuer.
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Green bonds made up the majority of the supply in the euro bank bond market on Thursday, with Hypo Noe and Santander capitalising on strong demand for the asset class.
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Hong Kong power generator Castle Peak Power Co took the nascent transition bond market a step further this week, selling a $350m deal that showed the potential for the sector. Morgan Davis reports.
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Chinese chemical company China National Bluestar (Group) Co raised $500m from a subordinated perpetual bond on Wednesday.
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The European Investment Bank and the State of Brandenburg have mandated banks to bring euro deals on Thursday, in what has been an extremely thin week for supply with issuers well funded and some weakness in secondaries.
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Sovereign, supranational and agency bond issuers are mobilising their resources to support the fight against Covid-19. The below table details the bonds they have issued, specifically in response to the coronavirus pandemic.
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China National Petroleum Corp (CNPC) has returned to the dollar bond market after a six year absence, selling a three-tranche deal that generated $21bn of orders at the peak.
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Europe’s corporate bond market burst into life on Tuesday with more than 10 primary deals on screens, as the US Federal Reserve’s plans to buy individual bonds brushed aside fears of a resurgence of Covid-19.
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The New Development Bank was not able to claim a seat among the top supranational borrowers as it brought its debut dollar benchmark on Tuesday, pricing at a spread of over 30bp to the premium triple-A rated names, according to on-looking SSA bankers.
