Natixis
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Supply-starved investors pounced on new euro benchmarks from the European Stability Mechanism and Agence Française de Développement this week, the first since the UK’s Brexit vote. -
Agence Française de Développement hit the sweet spot for supply-starved, yield-hungry investors on Wednesday with a 10 year euro benchmark.
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Swedish firm AR Packaging and French software firm Cegid both successfully allocated leveraged buyout loan packages this week — with the margins undisturbed by the UK's vote to leave the EU.
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The first corporate bond new issue has been priced in euros at a negative yield. Deutsche Bahn raised €350m of five year debt on Wednesday with a 0% coupon, at a yield of -0.006%.
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Foncia, the French residential real estate company, on Tuesday began marketing its €1bn LBO loan into an "issuer friendly" market, according to one investor.
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Construction company Salini Impregilo was the second Italian borrower in the high yield market on Monday, as a fortnight of no issuance ended.
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China National Chemical Corp met bankers in Hong Kong this week ahead of a $12.7bn fundraising for its acquisition of Swiss biotech firm Syngenta.
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Oman Shipping Company is syndicating an underwritten loan, after other state-owned Oman firms PDO and Dhofar Power Company wrapped up deals in recent weeks.
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The European investment grade corporate bond market has been ticking along like a metronome this week, printing a steady deal a day. And encouragingly, big deals have returned.
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Unrated Italian health and beauty product maker Artsana has allocated the loan funding for its 60% stake acquisition by Investindustrial, with pricing unaffected by the Brexit vote.
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China National Chemical Corp held a roadshow on Tuesday in Hong Kong for banks invited to join its $12.7bn loan in general syndication, as it looks to tie up funds for its acquisition of Swiss firm Syngenta.
