ING
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Turkey’s export import bank raised $500m on Wednesday, returning to the bond market for the first time since the Turkish currency crisis in 2018, benefiting from a relief rally following the Turkish central bank meeting on Wednesday. -
Some Schuldschein arrangers are expecting that a syndicate’s distribution skills may become more important this year, as conditions across capital markets become more chaotic.
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On Monday, the US deliveries group FedEx returned to the euro corporate bond market for the first time since its debut visit in 2016 when it raised €3bn to finance its purchase of Dutch peer TNT Express. That deal was a four-tranche combination, but its latest deal was just a €500m 3.5 year deal to refinance the shortest tranche of the debut deal.
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On Friday, American data centre owner Digital Realty sold the first green corporate bond in euros of 2019, but investors did not have long to wait for the second one as Italian energy company Enel also chose to issue in the format.
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Shandong Qingyuan Group has closed a $430m one year self-arranged club loan with five participants.
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Austrian construction firm Porr has become the first Schuldschein borrower in 2019, launching a pair of deals totalling €150m that are offered in three maturities. The deal was launched on Monday, and some of it is for green projects.
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Bankers have confirmed that Qatar National Bank has entered the second phase of syndication to refinance an existing €2.25bn facility due for maturity in May 2019.
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ING Groep was set to raise €1bn of senior notes for the minimum requirement for own funds and eligible liabilities (MREL) on Monday, showing for the first time in 2019 what kind of a premium issuers may have to pay to complete new unsecured deals in euros.
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The corporate bond market saw its second day of issuance in the new year on Monday when French multi-utility Veolia and Belgian electricity grid operator Elia sold new deals.
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Qatar’s Doha Bank has closed a $525m unsecured facility as lenders demonstrated healthy appetite for the small and politically isolated Gulf country.
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Russian Copper Co (RCC) has closed a $250m five year credit facility, marking the second refinancing that RCC has secured this year. The tight margin sparked a sliver of optimism in the market.
