Europe
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Swiss foods group Nestlé issued a €500m no-grow bond on Wednesday, clinching a 25bp spread over mid-swaps and still drawing a €1.6bn order book.
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Guarantor: Federal State of North Rhine-Westphalia
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Royal London Mutual Insurance Society looked to the sterling market for a £350m 13 year subordinated bond, following meetings with investors earlier this week.
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A spate of mandates hit CEEMEA this week, with Macedonia and Cameroon joining two Middle East banks in announcing new deals.
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Spain cut its long term borrowing costs at a debt auction on Thursday, as it hit the middle point of its target volume range. -
Glarner Kantonalbank (GLKB) has priced a junior subordinated Swiss franc additional tier one (AT1) bond on Friday, drawing interest from local retail investors.
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RCI Banque, the finance subsidiary of Renault, has kept the car industry's bond market revival going, by issuing a €500m no-grow bond today.
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Italian oil and gas company TotalErg has cut the size of a facility and mandated banks in its latest loan refinancing.
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The Norwegian issuer surprised the markets with a rare three year on Wednesday. The deal was one of the largest issued in euros this year and attracted an exceptionally high quality order book, though the oversubscription ratio was less convincing.
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Switzerland’s largest canton returned to the Swiss franc market after a long absence on Tuesday, with a 12 year deal that was heavily oversubscribed.
