ING

German energy supplier Innogy found the corporate bond market tough going for its latest new issue, despite marketing its deal for two days. However, it did execute the deal in a week that saw two corporate bond deals pulled, and despite an M&A shadow hanging over the company.

The Export-Import Bank of Korea focused solely on floating rate notes for its $1.5bn dual-tranche bond outing on Wednesday, getting away with tight pricing thanks to robust buy-side demand.

On Wednesday, US electrical appliance manufacturer Whirlpool became the second investment grade corporate borrower to pull a deal in a week. German energy company Innogy and Whirlpool both found the corporate bond market tough going on Wednesday, despite having employed two-day marketing strategies. Whirlpool, however, took the hardest hit.

UK waste management company Renewi has amended and extended its main bank debt to convert it into a €550m green loan, just months after bankers said this market was due to grow following the release of standardised guidelines.

ING Belgium has mandated leads for its first covered bond deal since September 2015 and, after being 150 years in operation, Berlin Hyp has announced plans for a ‘jubilee’ transaction in the form of a mortgage backed five year.

German chemicals company BASF found substantial demand for its second visit to the corporate bond market to fund its acquisition of Bayer’s seed business.

The UK’s Low & Bonar has signed a new €165m five year revolving credit facility, refinancing early a same sized revolver that was due to mature in July next year.

German chemicals company BASF found substantial demand for its second visit to the corporate bond market to fund its acquisition of Bayer’s seed business.

Infrastructure investor Sequoia Economic Infrastructure Fund (SEQI) has used an equity placing to repay the bulk of a drawn down revolving credit facility, maintaining a capital plan the company flagged at the end of last year.

BMW Finance had to negotiate its way through a busy corporate bond market on Monday as it sold a €1.75bn 4.5 and eight year dual tranche offering. It had to pay new issue premiums of around 8bp-10bp but saw strong demand.

Indonesian financial services company MNC Investama raised $231m from an exchange and new money offering on Thursday, but the market backdrop and aggressive pricing made it difficult for the firm to add much to the new money portion.

US paper and packaging company WestRock has signed a euro denominated loan for its Luxembourg subsidiary, though the firm has an option of three currencies to drawn down.