Deutsche Bank
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Euro issuance by US companies has slowed since mid-March, as many have been in earnings blackouts. However, after General Mills' deal on Monday, bankers expect US issuers to return, but at more modest levels than in February. -
ZF Friedrichshafen, the German car parts maker, sold its first bond on Monday, raising €2.25bn at yields under 3%, in a market supportive of its expansion strategy.
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KfW has mandated banks for a 10 year dollar benchmark, keeping up a trend by SSAs to print at the longer end of the curve.
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The European Financial Stability Facility is set to create a new pricing benchmark on Tuesday — but the latest Greek worries could make conditions turbulent.
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Wind turbine manufacturer Senvion is seeking to issue €400m of senior secured green bonds, in connection with its sale to Centerbridge Partners for €1bn.
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Banco de los Trabajadores (Bantrab) is planning to raise $100m of subordinated debt by issuing pass-through notes secured by a loan from Deutsche Bank in a similar structure to its senior unsecured debt.
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Transport for London on Friday added to a burgeoning green bond market in sterling by selling its inaugural deal in the format at a level inside initial price thoughts.
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Investors welcomed the return of Industrial Bank of Korea (IBK) in the dollar bond market on April 16, happy to get their hands on one of the less active policy banks. Pleased with the quality of the order book and the pricing level, the issuer decided to increase the size to $700m.
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Hindustan Petroleum Corp’s (HPCL) $400m 39 month facility has attracted two to three commitments so far, said bankers.
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India’s Bharat Petroleum Corp (BPCL) has mandated four banks to help with the company’s return to the dollar bond market following a two and a half year absence.
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The European high yield market this week was in ebullient mood as borrowers left behind the Easter holidays and brought a wide variety of deals to market.
