Euro
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Friday’s sharp turnaround in US sentiment left some European corporate bond players unsure as to how their market might open on Monday. But the tone turned out to be positive and US chemicals company Celanese Corp was ready to take advantage. -
China Reform Holdings Corp, China General Nuclear Power Corp (CGNPC), Hong Kong’s Pearl Holding III and Shimao Property Holdings are among the issuers in the market with new transactions on Monday.
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Gansu Provincial Highway Aviation Tourism Investment Group Co, a Chinese local government financing vehicle (LGFV), opted to hit the euro market to diversity into a different investor base, despite having to pay a decent premium for its debut status in the currency and a weak credit rating.
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Italian state-owned railway operator Ferrovie dello Stato Italiane sold its first green bond on Thursday.
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Irish headquartered US energy technology company Johnson Controls sold the shortest corporate bond deal of the week on Tuesday, tapping into the pool of investor money looking for a safe option into the end of the year.
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German car company BMW became the third issuer to sell a deal in the infrequent Eurodollar new issue market this November, as well as solidifying its position as the largest seller of corporate MTNs in 2017.
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Bulgarian insurer Eurohold sold a €70m five year bond on Thursday, rolling many investors from an old bond into this new one.
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On Wednesday Spanish telecoms company Telefónica brought the third hybrid from a Spanish corporate issuer this November, following deals by Ferrovial and Iberdrola.
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Ford Motor Credit Co, the financial services arm of the US motor company, and Deutsche Bahn raised a combined €1.5bn from floating rate notes this week, attracting demand from the traditional fixed rate buyer base with four and seven year maturities.
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On Thursday German telecoms company Deutsche Telekom sold its third bond with a 2024 maturity, while Italian state owned railway operator Ferrovie Dello Stato issued its first green bond.
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Bulgarian insurer Eurohold has set the minimum size of its five year bond to €50m but postponed pricing from Wednesday to Thursday to allow more orders to come in.
