Denmark
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Danish agricultural company Dansk Landbrugs Grovvareselskab (DLG) signed its first syndicated loan on Tuesday, borrowing €625m from 13 banks. -
Nykredit Realkredit attracted demand of over €1.5bn for its debut syndicated covered bond this week, a deal which despite being issued in rare floating rate format was readily absorbed by a new diversified group of mainly bank treasury investors.
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Europe’s equity block trade market made an impeccable start to its autumn season on Wednesday night, when two repeat sellers brought trades in familiar, recently floated stocks, and both found strong demand.
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Goldman Sachs is soon to close a block trade of its Dong Energy shares, its third sale since the IPO, with price guidance standing at Dkr320 to Dkr322 a share.
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A pair of issuers sold high quality euro deals into an eager market on Wednesday, drawing praise from onlookers for impressive books.
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The European Financial Stability Facility (EFSF) picked up €2bn with a 23 year bond on Tuesday, paving the way for other top-flight borrowers to bring their own euro deals.
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Two holidays and September’s European Central Bank meeting will mean the next two weeks will offer short windows for issuance, but the success of the two deals that priced this week will inspire corporate bond issuers looking at the market.
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European corporate bond investors had only one corporate bond deal to consider in August before LafargeHolcim brought its €750m 12 year deal on Tuesday. But that lean period looks to be over as ISS Global followed with a €600m 10 year transaction on Wednesday.
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European corporate bond investors had only had one corporate bond deal to consider in August before LafargeHolcim brought its €750m 12 year deal on Tuesday. But that lean period looks to be over as ISS Global followed with a €600m 10 year transaction on Wednesday.
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Denmark’s Jyske Bank could return to the market for loss-absorbing capital in the second half of 2017, as the firm looks to hit its subordinated debt issuance targets and gets ready to increase the size of its share buy-back programme.
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On Tuesday LafargeHolcim became the first issuer for nearly two weeks to launch a corporate bond in Europe. The €750m 12 year deal received strong demand, which may lead other issuers to bring forward their plans.
