Europe
-
Safran, the French aerospace and defense company, has returned to the equity-linked market to sell a new €730m convertible bond. -
Fast money accounts have been selling eight and nine year European Union bonds in anticipation of supply this week. But since these buyers are not expected to get much of an allocation of the fresh bonds, traders predict a modest short squeeze.
-
Former Goldman Sachs partner Tim Flynn co-founded credit fund manager Hayfin in 2009, with the global financial crisis of 2007-08 already in the rear view mirror. Having steered his firm through the European alternative credit market's first major test, he talked to GlobalCapital about how funds are managing their way through the Covid-19 crisis and whether their performance will attract more investors into the asset class.
-
Derichebourg, a French waste disposal and recycling firm, is looking to sell €300m of seven year senior unsecured green notes to finance the acquisition of private equity-backed competitor Ecore.
-
Public sector borrowers have got off to a busy start to the week in euros, with two live deals on Monday set to be followed by at least three on Tuesday, including Italy, as issuers look to get in ahead of a hotly anticipated European Central governing council meeting on Thursday.
-
Íslandsbanki, the Icelandic bank nationalised during the financial crisis, has secured several cornerstone investors for its flotation on the Nasdaq Iceland.
-
The European Union has sent banks a request for proposals for the first issuance under its Next Generation EU (NGEU) programme, with the maiden deal expected to be a chunky size.
-
Swedish Covered Bond Corporation’s (SCBC) benchmark eight year deal, syndicated on Monday, was slow to build and, even though the final spread looked fine, the process clearly showed that investors are reticent to buy deals at prevailing levels.
-
A host of initial public offerings were launched on Monday as banks try to squeeze out a few more deals before the market begins to break for the summer. A fatigued investor base, though, remains highly selective and sources say only the highest quality offerings are likely to succeed.
-
Eika Boligkreditt has mandated joint leads for a 10 year and its first green covered bond under its newly established green framework. At the same time, Bank of New Zealand plans a seven year benchmark and Finland's Oma Savings Bank intends to tap its outstanding six year deal.
-
The former co-head of Bank of America Merrill Lynch's EMEA corporate and investment bank, Bob Elfring, has returned to banking in a vice-chair role at JP Morgan after retiring in 2018.
-
