ING

Europe’s high grade bond investors showed they are still willing to swallow ultra-thin spreads on Monday, when Dutch leasing company LeasePlan priced a green bond well inside fair value and Deutsche Boerse won ample demand for a thinly priced €1bn deal.

Mercuria has launched a US private placement deal, according to market sources. The privately-owned Swiss commodity trader is the third company to enter the PP market from Europe this year.

Snam, the Italian gas pipeline company, and SKF, the Swedish ball bearing maker, kicked the week’s corporate bond new issuance off in Europe on Monday with deals that offered razor-thin spreads from the start.

CTP, the Dutch logistics real estate company, did away with its usual bond marketing routine and went with a one day execution on its latest deal on Thursday, as the company reckoned on the green label and the sector it operates in being enough to get investors on board.

SpareBank 1 SMN’s second green bond, priced on Thursday, is set to spark a flurry of similar green deals as issuers try and take advantage of the demand on offer for labelled debt — even at near-term tights.

Norway’s Sparebank 1 SMN is set to return with its second green bond in the coming days, becoming the third Nordic issuer to tap the public market this year.

Deutsche Bank attracted more than €7.5bn of demand for two tranches of non-preferred senior debt on Monday, as investors showed strong support for the credit following a positive set of results for 2020.

Prologis, the US logistics real estate investment trust, and unrated French telecoms company Iliad showed the range of corporate deals on offer this week, with investors pouncing on both trades.

Iliad, the unrated French telecoms company, attracted ample demand and twice increased the expected size of its bond during bookbuilding on Thursday, as syndicate bankers say the European corporate market is wide open to all types of issuer.

A $390m loan backing CVC Capital Partners’ acquisition of Myanmar’s Irrawaddy Green Towers (IGT) was abruptly put on hold this week after political turmoil rocked the country following a military coup. Pan Yue reports.

Prologis, the US logistics real estate investment trust, proved that highly rated corporates can still entice investors, with the issuer printing long maturity debt inside fair value despite tight spreads.

CaixaBank found €3.7bn of demand for a green senior bond on Tuesday, as investors revealed their hunger for new paper. BayernLB could follow with a green deal of its own against the improving backdrop in euros.