HSBC
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Two SSA borrowers tapped the seven year part of the euro curve this week, but came away with different results. Luxembourg received an oversubscribed book for its deal on Wednesday, while Nederlandse Waterschapsbank (NWB Bank) had to price without fully placing its €1bn trade. -
Investors staged a protest over pricing in the non-preferred senior bond market this week, causing one transaction to fail and putting two others at risk of falling flat. Comfortable with their returns for 2019 and happy to be able to choose from a glut of new bond offerings, funds have simply been happy to divert their attention elsewhere. Tyler Davies reports.
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La Banque Postale is looking to strengthen its capital position with a new additional tier one bond, beginning investor meetings on Friday. The issuer joins a growing trend towards issuers employing six month par call options in their perpetual securities.
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Bovis Homes hits debt and equity markets — IAG swoops on €1bn Air Europa — Northern Irish HA sells US private placements in market first
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Germany’s Daimler and the UK’s SP Transmission hit the sterling market this week, bringing deals that had to ride waves caused by European Central Bank bond buying and political upheaval in the UK.
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A move in the Bund curve left the market too volatile for Nederlandse Waterschapsbank (NWB) to fully place its seven year euro benchmark on Thursday.
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UK housebuilder Bovis Homes is heading to the debt and equity markets to finance an agreed £1.075bn acquisition of part of compatriot Galliford Try’s business.
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China’s Ministry of Finance has raised €4bn from a three tranche deal, returning to the euro market after 15 years away. The bond is expected to encourage Chinese issuers from across the credit spectrum to tap the euro market, writes Addison Gong.
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Santander Consumer Finance (SCF) had plenty of momentum in its order book as it looked to extend its maturity curve in the preferred senior bond market on Wednesday.
