Deutsche Bank
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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. -
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.
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Europe’s corporate bond investors had the chance to pick up some paper from the riskier end of their credit spectrum as the week began, with Portuguese power company Energias de Portugal (EDP) and Swedish housing firm Heimstaden Bostad out with hybrid capital issues.
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Iceland was awash with demand in the euro market on Thursday, allowing it to comfortably sell its biggest bond in euros since 2014. But it was a far different outcome for the Joint Laender, which failed to achieve full subscription.
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Chinese property company Kaisa Group Holdings raised $200m from a rapid return to the debt market this week.
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Anglo-German travel and tourism group TUI has completed its heavily discounted €544m rights issue, which is part of a bailout of the company.
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ANZ returned to the euro market with a tier twovlinked to the UN’s sustainable development goals (SDG) this week — going on to print a deal that was over three times covered at guidance.
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The Republic of Slovenia sold its longest ever bond issue on Wednesday, just three weeks after it sold a €2bn deal. The bid for duration was evident as investors piled in with more than €4bn of orders.
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Banque Internationale à Luxembourg (BIL) ventured into the Swedish and Norwegian markets for the first time this week. With many of Europe's big banks absent from the MTN market this year, dealers are instead chasing more unusual deals from rarer names.
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More Chinese real estate borrowers headed to the dollar bond market on Tuesday, as bankers tackle a supply rush in the lead up to the Chinese New Year holidays in mid-February.
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Oesterreichische Kontrollbank (OeKB) hit the market on Tuesday for a five year dollar benchmark, raising $1.5bn despite pricing coming through the issuer’s secondary curve.
