Deutsche Bank
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Two triple-A rated supranational borrowers scored big in the Australasian bond markets on Wednesday with the Asian Infrastructure Investment Bank selling its first Kangaroo trade and the World Bank bringing the joint biggest ever SSA Kauri bond – equalling the record it set last year. -
Deutsche Bank’s investment banking group was among the best performers in a strong all-round quarter for the German firm.
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Kaisa Group Holdings closed a $500m bond this week, part of a liability management exercise.
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Italy sold new three and 30 year dollar bonds through syndication on Tuesday as it continues to build out a curve in the currency.
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Italy mandated banks on Monday to lead a syndicated dollar dual tranche comprising new three and 30 year bonds as the sovereign continues to build out a curve in the currency following its return to the dollar market in 2019.
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Hochtief, the German construction company, has followed up its bond outing with a revolving credit facility. The deals see the company take on around €750m of debt in the run-up to its annual general meeting.
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The Asian Infrastructure Investment Bank is planning its first foray into the Kanagroo bond market as it further diversifies its funding programme.
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Corporate bond issues came at a healthy clip in the US market this week, despite earnings blackouts, as investors showed a preference for highly rated paper.
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Iberdrola, the Spanish utility, and Clarion Housing, the UK housing association, became the latest companies to sign loans using risk-free rates instead of Libor, as more deals are signing that ditch the scandal-ridden benchmark from day one.
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Iberdrola, the Spanish utility, has signed a €2.5bn sustainability-linked loan, becoming the first Spanish company to use risk-free rates as a benchmark instead of Libor.
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Kaisa Group Holdings paid a new issue concession of about 10bp for a $200m tap of one of its existing deals, appealing to investors amid recent pressure on Chinese bonds in the secondary market.
