Europe
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Lonza, the Swiss medical firm, is sounding the market for a $100m seven year loan, following a €870m-equivalent Schuldschein transaction in August. -
Euro corporate bond investors see RCI Banque as a frequent borrower, pricing new issues multiple times a year, but it remains a rare name for sterling investors. Last Friday it sold its first bond in the currency for more than three years.
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Red hot market conditions this autumn may tempt financial institutions into making early inroads into their funding and capital plans for 2018, bankers said this week.
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Housing & Care 21, a provider of housing and care services for elderly people in the UK, made a successful corporate bond debut on Wednesday when it sold a £250m 30 year deal that grew its sector’s presence in the sterling market.
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Nomura has appointed Hugh Karseras, a former Deutsche banker to their new global chief operating officer role.
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Cores, Spain’s strategic oil reserves manager, has picked banks for a roadshow to promote a euro bond, just as Spain faces its most severe political turmoil in years. But Spanish bond prices, bolstered by European monetary policy are more than weathering the storm.
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The euro corporate bond market launched its first new issues of the week on Thursday following two days of public holidays in Germany. Frequent issuers, Aroundtown and Daimler, broke the silence, with the former paying no premium.
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The first UK interest rate rise for 10 years, announced on Thursday, may stimulate sterling corporate bond issuers, because the Bank of England’s accompanying statement was even more dovish than expected.
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On Thursday night the French government sold a 4.7% stake in Renault, the car maker, via an accelerated bookbuild that was priced without any discount, thanks largely to its removal of an overhang. The stock leapt on Friday.
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Shares in HelloFresh, the German meal kit delivery company, rose 4.3% on Thursday when they began trading on the Frankfurt Stock Exchange, after its IPO was priced at the bottom of the revised range.
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Deutsche Börse marked the first run for its regulatory reporting hub this week, as the reporting obligations for the revised EMIR technical standards came into effect.
