HSBC
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Corporación Andina de Fomento (CAF) will break the silence of the public sector dollar market this week, after circulating initial price thoughts on Tuesday for its first benchmark of the year in the currency. -
Theresa May may not have brought any further clarity to the UK’s Brexit agreement, but that is not causing any issues for investors and issuers in the sterling corporate bond market. On Tuesday, two more deals were priced: one from a UK issuer, one from a European.
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Egger, the Austrian wood-based panel maker, has entered the Schuldschein market for a third time, shaving its pricing margins once again.
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The European Investment Bank on Monday selected the five year part of the curve for its second euro benchmark of the year. The issuer will be hoping to replicate the recent success of public sector agencies in that tenor, including KfW, which achieved a record breaking book for its five year last week.
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Finland and Madrid hit screens on Monday to capitalise on the red hot appetite for euro sovereign supply in the 10 year part of the curve.
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Hong Kong’s Towngas has priced a rare dollar perpetual bond, taking $300m from a deal that saw investors pump in more than $4bn in orders.
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Guarantor: Federal State of North Rhine-Westphalia
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Greece’s impressive return to the public bond markets this week has set the perfect backdrop for further syndication in 2019, which bankers say could be a 10 year, a maturity it has not tested since its 2014 post-bailout comeback. The big bid for eurozone periphery debt could also see Greek and Italian banks sell covered bonds in the near future, according to market participants. Burhan Khadbai and Bill Thornhill report.
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Several public sector borrowers tapped the socially responsible investment (SRI) market this week, with more deals expected in February, before what many analysts expect will be a record year for the asset class.
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Spanish telecoms company Telefónica on Monday launched the first green bond in euros from the telecoms sector. The firm, rated as one of Spain’s leading companies in the fight against climate change, published its Sustainable Development Goal (SDG) framework in November but had to wait two months to sell its first green bond.
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Chinese automobile retailer Zhejiang Geely Holding Group has returned for a €1.4bn dual-tranche facility to refinance a bridge loan raised last year for its purchase of a share in Swedish truck maker AB Volvo.
