Goldman Sachs

Île-de-France was able to tighten pricing on a green bond by 5bp from initial thoughts while still overshooting its target size this week. Bankers away from the deal said it was more a sign of the maturity of the green bond market than about any one issuer or bond.

Amid a hail of equity capital markets deals on Thursday evening, Airbus launched a €2.1bn sale of all its remaining shares in Dassault Aviation, using a €1bn exchangeable bond and block trade of about €800m. That came after Valeo had sold a $450m equity-neutral convertible earlier in the day, and as two other block trades were in the market.

Springer Nature, the German publisher, Unit4, the Dutch software firm, and German telecoms firm Tele Columbus have all brought refinancing deals to the leveraged loan market this week.

A resurrection of what should have been last year’s biggest deals from Veritas and a euro deal from Altice point to a leveraged loan market that has returned to good health, writes Max Bower.

Cegid has launched €365m of loans for its buyout, at a 25 times multiple, by two investment firms. One of the buyers was set up by the former chief operating officer (COO) of Goldman’s investment banking unit in Japan.

Springer Nature, the German publisher, Unit4, the Dutch software firm, and German telecoms firm Tele Columbus have all brought refinancing deals to the leveraged loan market this week. But the majority of deal flow remains in the mid-market space.

A pair of public sector borrowers are lining up to sell dollar floating rate notes on Thursday, following a series of floating and fixed rate deals in the currency on Wednesday.

Hotel Lotte Co has managed to smooth over a wobble in investor sentiment for its W5.3tr ($4.6bn) IPO after accusations of bribery in the company hit the news last week. It has delayed its listing by a month, chopped the price range to bandage the situation and now looks set to go ahead, writes Jonathan Breen.

A trio of issuers have lined up short end dollar deals for pricing on Wednesday. Some bankers said the focus on threes and fives was in response to poor US jobs data last week, although that view was not universal.

The Irish telecommunications firm Eircom Holdings on Tuesday issued a benchmark size secured bond at 25bp inside guidance levels — giving encouragement to the group of other issuers waiting in the pipeline.

Hotel Lotte Co has sliced the potential money it can raise from its IPO to W5.3tr ($4.6bn), a cut of more than W400bn, and pushed back the deal to now launch in mid-July, according to an updated prospectus filed with the South Korean regulator.

Tianjin Infrastructure Construction (TJII), China State Construction Engineering Corporation Limited and ICBC’s Dubai branch are out in the dollar bond market on Tuesday with their respective fundraisings.