HSBC
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Indian conglomerate Reliance Industries has made a quick return to the loan market, raising a $1bn facility to refinance a bond maturing later this month. -
Kering, the French luxury goods giant, has offloaded a €687m chunk of its stake in German sportswear company Puma, via an accelerated bookbuild.
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International SOS, a Singapore-based emergency medical assistance provider, is making its debut in the syndicated loan market for $320m.
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Risk appetite has returned to the high grade corporate bond market, with UK airport Heathrow and US drinks firm PepsiCo managing to move spreads by around 45bp during execution.
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A trio of firsts are coming to the high grade corporate bond market this week, with a debut hybrid from Italian oil and gas firm Eni, a green first for French chemicals company Arkema and a postponed entry to the Eurobond market for Danish pharmaceutical firm Lundbeck.
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Green, social and sustainable issuance has dominated the supranational and agency bond market for a whole month, consistently outpacing conventional supply. That trend looks set to continue with three SRI deals already on screens.
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Brookfield Asset Management is readying the IPO of its Indian real estate investment trust, which could raise up to Rp38bn ($519m) in primary proceeds.
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Debt capital markets bankers say that smaller pricing steps are possible when selling deals on a yield basis, after bookrunners made a 7.5bp move with National Bank of Greece’s green deal this week.
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Inland Homes, a UK housebuilder, has triggered an accordion clause on a sterling loan to finance extra construction, as lenders say there are signs that companies are using money to invest again rather than firefight the effects of Covid-19.
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Bank Nederlandse Gementeen kicked off a busy week for socially responsible bond issuance by public sector borrowers with a well-received 12 year sustainable bond, its longest ever deal in that format.
