HSBC
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The Republic of Turkey demonstrated its access to international markets this week with a four times oversubscribed sukuk. But the deal does not represent an access-all-areas pass to the capital markets for the borrower, following a turbulent period that has seen little change to appease investors, writes Mariam Meskin. -
A trio of borrowers looked to slip in with conventional senior deals ahead of Wednesday’s US Federal Reserve meeting, with each paying a small premium to do so.
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Office owners and operators found a warm reception in the high grade corporate bond market this week, with investors and analysts growing increasingly bullish on the sector despite the risks it faces.
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Naturgy Energy, the Spanish gas and electricity utility, has doubled the size of its revolving credit facility in an amend and extend exercise, the latest demonstration that the balance of power in the loan market remains firmly on the side of the borrowers.
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Wipro, an Indian information technology business with global reach, sold its first dollar bond this week. The $750m trade catered to international investors already familiar with the company and its credentials.
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Europe’s high grade bond market hosted issuers at both ends of the rating spectrum on Wednesday, with Italian transmission company Terna and Singapore’s Ascendas Reit finding ample demand for their higher rated debt.
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Bank of Cyprus has ended its longstanding absence from the syndicated senior market, returning to print a preferred senior bond that will count towards its minimum requirement for own funds and eligible liabilities (MREL).
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There was little let-up in demand for property companies' bonds on Tuesday, as investors stocked up on Inmobilaria Colonial and debut issuer Sirius Real Estate, before the void of issuance expected from the tail end of this week.
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Turkey's Akbank launched a dollar sustainable bond on Tuesday, just months after it raised its first ESG-linked syndicated loan.
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The European Union generated a blowout reception for its debut bond under the €800bn Next Generation EU (NGEU) programme on Tuesday, although it paid a sizeable new issue premium of 4bp-5bp according to senior bankers away from the deal.
