HSBC
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Enel, the Italian energy company, proved that there is sterling demand for sustainability-linked bonds on Tuesday, with the borrower repeating its achievement in dollars and euros by creating the market in the currency. -
Crossover credit Inwit showed that the return of risk demand is still going strong this week, with the Italian wireless infrastructure company drumming up €3.7bn of demand for its trade.
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A pair of European banks approached the euro senior market in different ways on Tuesday: Iccrea targeted a smaller pool of investors with its delayed callable debut, while BFCM went big with a blowout long 10 year.
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La Mondiale printed a rare tier three deal on Tuesday to diversify its capital structure, using the strong demand for the unusual product to print around 25bp through fair value.
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Three high yield Chinese property issuers turned to the offshore bond market on Monday, raising $950m between them.
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Enel, the Italian power and gas company, is set to push the nascent sustainability-linked bond market to a new currency this week after the company mandated for the first deal in the format in sterling.
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Canpack, a Poland-based packaging company, is making its debut in the euro and dollar high yield market this week, as it seeks to shake off the constraints of its private placement-based capital structure and prepare for expansion in the US.
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Aveva, the UK software company, has completed another round of loan financing linked to its $5bn purchase of US industrial software company OSIsoft, with the acquisitive firm taking a sterling revolver but scrapping a planned $900m loan.
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Sharjah Electricity & Water Authority (SEWA), a state-owned firm in the United Arab Emirates, is making a rare appearance in the Asian syndicated loan market with a $250m borrowing.
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Tesco, the UK grocer, has refinanced its sterling facility with a £2.5bn sustainability-linked deal that uses risk-free rates as a benchmark, as companies try to get to grips with the end of Libor.
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Veolia, the French utility, has been successful with its sweetened €3.4bn offer for a 29.9% stake in compatriot water company Suez, opening the door to a full merger as the acquisitive company uses bridge loans and potentially an equity raise as part of the transaction.
