Deutsche Bank
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Banco Commercial Portugues is planning to build out its debt stack with a preferred senior note, which should have value for the minimum requirements for own funds and eligible liabilities (MREL). -
Indian renewable energy company Continuum Energy Levanter made its debut in the dollar bond market this week, more than three years after pulling its initial attempt. However, it had to offer investors incentives to seal the $561m deal, writes Morgan Davis.
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Portugal was awash with demand as it came to the market on Wednesday for a new 30 year euro benchmark, following well-received syndicated deals from Belgium and Finland on Tuesday.
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Lippo Malls Indonesia Retail Trust printed a $200m bond on Tuesday, with investors largely brushing off concerns about the hit to the borrower's business during the pandemic.
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Portugal mandated banks on Tuesday to lead the sale of a new 30 year bond as it looks to pounce on the strong investor appetite in the long end of the euro curve.
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Intermediate Capital Group, the UK alternative asset manager, has signed a £500m revolving credit facility based on Libor, but with provisions to change to risk-free rates when the old benchmark falls out of use.
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Met Group, the Swiss energy trading company, has signed €915m of short term loans, reducing its facility for the first time for years, after ABN Amro, one of its main lenders, pulled out of this kind of financing. Met found two other banks to replace ABN but wanted to focus on price with the deal, rather than size.
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Singapore’s ride hailing start-up Grab Holding has further increased the size of its term loan B to $2bn following solid traction in the US market.
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Austria, Greece and Iceland all received huge order books for their first syndicated bonds of the year, coming hot on the heels of a European Union jumbo dual-tranche sale earlier in the week.
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The European Union continued where it left off last year as it returned to the bond market this week with another jumbo deal that attracted a huge order book for the first deal of the year under its Support to Mitigate Unemployment Risks in an Emergency (SURE) funding programme.
