Danske Bank
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Swedish debt purchaser Intrum sold a tap of its 4.875% 2025 unsecured notes on Wednesday, intending to use the funds to part-pay its revolving credit facility. With a strong backdrop, and plenty of RCF drawings still outstanding, the company increased the deal by €50m during syndication. -
Commerzbank and Unipol Group ‘ticked all the boxes’ with their new green senior transactions on Wednesday, amassing large orders from investors.
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Seven Yankee banks stole a march this week in the race to frontload funding, as September got off to its usual red-hot start in dollars.
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Ford, the US car maker, offered investment grade bond investors a chance to dip into high yield on Tuesday. And its rival, Nissan Motor, is lining up a seven tranche behemoth bond issue that will create a euro curve out to eight years.
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Europe’s corporate bond investors had the spectrum of credit ratings to pick from on Thursday, from A- rated Volvo Treasury down to German speculative grade fallen angel ZF Friedrichshafen.
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DNB Boligkreditt did not waste any time waiting to tap its covered bond first issued last week, raising a further Skr500m on Thursday in order to capitalise on the attractiveness of the Swedish krona compared with other currencies.
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Glencore, the UK commodity trading company, captured the corporate bond market’s attention on Wednesday with the first test of demand for a cyclical credit since the summer break. Investors jumped at the deal, with leads launching it flat to the borrower’s curve.
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Sweden’s long gestating green bond debut came to fruition this week as the sovereign scooped Skr20bn ($2.3bn) at a discount to its conventional curve.
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Following a series of investor calls, Sweden has announced the tenor of its debut green bond, which is expected to be issued early next week through syndication.
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