Euro
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Austria has become the first eurozone sovereign to syndicate a 100 year bond, selling €3.5bn to investors desperate to pile cash into ultra-long paper.
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Monday saw five new corporate bond issues in Europe, but Ahold Delhaize was the only issuer to price a deal on Tuesday. Unlike the triple-B rated issuers on Monday however, the Dutch food retailer paid a single digit new issue premium.
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Austria has picked banks for a five year bond to be launched on Tuesday, but may also extend its curve to 100 years.
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Cromwell European Real Estate Investment Trust launched bookbuilding on Monday for a €902.9m ($1.08bn) listing on the Singapore Exchange, a move in line with the parent’s diversification strategy.
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The votes are in and three high quality issuers from last week's slew of public sector benchmarks are featured in this week's breakdown of the BondMarker results.
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Guarantor: Federal State of North Rhine-Westphalia
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A tremendously supportive SSA market brushed off Thursday’s European Central Bank (ECB) meeting, printing all the way up to the morning of the press conference by bank president Mario Draghi, writes Lewis McLellan.
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On Tuesday, pharmaceutical firm GlaxoSmithKline returned to the corporate bond market for the first time since November 2014, and its rarity value contributed to combined order books of over €5.5bn for the triple tranche deal.
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The European high yield bond market returned from its summer break to €3bn of new bond offerings this week, including notes from Delaware’s Kronos International and California’s Equinix.