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The European Investment Bank sold Z1.5bn ($439.6m) of seven year notes on Wednesday. It was the first time the supranational has issued a benchmark sized floating rate note in the currency as it bids to attract a new group of investors. -
French property company Gecina started its funding programme for 2018 with a €500m 12 year offering on Wednesday after selling €2.5bn of bonds in 2017.
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Prologis, the US-based warehouse Reit group, recently became the first issuer from its sector to issue a green bond, when it sold a €300m 10 year deal.
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German business software company SAP printed a €1.5bn triple tranche deal at tight spreads on Wednesday after more than a year and a half without issuing.
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On Wednesday, German business software company SAP printed a €1.5bn triple tranche deal at tight spreads following more than a year and a half without issuing, while American IT services firm DXC sold its first non-dollar deal.
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Gategroup Holding, the Swiss airline catering company, is planning to list on the SIX Swiss Exchange in an IPO that will allow its Chinese owner HNA Group to raise leverage-funds after a global acquisition spree.
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Russian Copper Company has signed a $250m loan with a club of banks to refinance a previous facility.
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On Friday, Unilever Spreads released guidance for its €4.6bn equivalent loan to fund its acquisition by KKR. French telecoms infrastructure group Circet also launched a smaller deal, a €570m loan package for its buyout by Advent. But investor demand isn't satisfied yet, say some market participants.
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On Thursday, Prologis, the US-based warehouse Reit group, became the first issuer from its sector to issue a green bond, when it sold a €300m 10 year deal.
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The total issuance of investment grade corporate bonds in February was an underwhelming €14.8bn but the property sector has outshone all others in 2018 and this week was no different as investors had further diversification to consider.
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Six of the nine investment grade corporate new issues in the last week of February were announced with a three letter acronym that, while providing clarity, served to frustrate investors keen to see greater volumes of issuance. WNG stands for “will not grow” and this week told investors that the meagre sized deals would not be increased, irrespective of demand.
