Deutsche Bank
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Following the success of Engie’s green hybrid bond the previous week, the French energy company’s Portuguese peer, EDP, launched its own version on Wednesday. While EDP’s deal did not achieve quite the same demand or tight pricing, the result was still a good one. -
Ping An Real Estate, a unit of Ping An Group, is returning to the loan market for an up to $300m borrowing after a two-year absence.
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Three sterling deals hit the SSA market on Tuesday, bringing this year’s total volume to more than double last year’s and indicating that issuers and investors are yet to be put off by the confusion surrounding Brexit.
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Spain came to market on Tuesday, printing its traditional January 10 year euro benchmark and receiving an overwhelming level of demand.
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New issuance returned to the corporate bond market on Tuesday as Auchan and Vonovia attracted €8bn of demand for their new deals after two days without any trades. The new issuance spreads they paid differed markedly however.
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Spain mandated banks on Monday for its first syndicated bond of the year, as it looks to replicate the success of other eurozone sovereign syndications so far in 2019.
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Export Development Canada is set to become the fourth public sector borrower to issue a debut Sonia bond this year, after picking banks on Monday for a three year bond linked to the reference rate. Meanwhile, KfW will return for its second sterling benchmark of 2019, sticking with a five year maturity it issued in earlier in the month.
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Guangzhou R&F Properties has priced its second dollar bond of the year, capturing investors ahead of what is expected to be another busy week for Asia’s primary debt market.
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Agence Française de Développement (AFD) this week sold its largest ever benchmark as it tackled an increased funding programme that will grow further in the next few years. That means the issuer will look to bring big trades again — as well as potentially growing its presence in the privately placed MTN market.
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The new-look Fox Corp made its dollar bond debut this week as the technical backdrop in the investment grade continued to improve with tightening spreads and thinner new issue concessions.
