Europe
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A pair of triple-A rated European agencies sold their first Swiss franc bonds for several years this week, responding to reverse enquiry for long dated, high rated paper. -
The European Investment Bank and Caisse d’Amortissement de la Dette Sociale (Cades) took centre stage in the public sector dollar market this week, ahead of the Lunar New Year, with EIB selling its first 10 year benchmark in the currency since 2015.
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Unlike its last syndication in January, when Spain lost over €75bn of orders after an aggressive move in pricing, the sovereign took a more cautious approach on its return to the public market this week to print its biggest ever 50 year bond.
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Deutsche Bank scored blowout trades in euros and in sterling this week, as investors showed strong support for the name following a positive set of results for 2020.
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Renewable energy companies have rushed to the European equity capital markets in 2021 to issue about $2.3bn of paper, according to Dealogic data. The figure is by far the best ever start to a year for green equity issuance, and with investor demand for paper increasing, sources predict there will be much more supply to meet it.
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BPCE is drawing Natixis closer at a pivotal time for the investment bank and European banking consolidation, writes David Rothnie.
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Canada’s Equitable Bank has registered its covered bond programme this week. It expects to issue its first transaction in euros at the short end of the curve in the second quarter.
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Pension Insurance Corp (PIC) has given Livin Housing a further £30m of private placement funding, after lending the housing association in England’s County Durham £65m in April 2019. Market participants have told GlobalCapital that several other housing associations are readying private placement deals for the next few months.
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Deutsche Bank opened books for the first sterling FIG deal in about a month on Thursday, following on from a strong euro transaction earlier this week.
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Nordic Entertainment Group (NENT), a Swedish entertainment company that operates video streaming and television services, completed a Skr4.35bn ($523m) capital raise on Wednesday evening and attracted enough investor demand to price a larger deal than originally intended.
