Natixis

Issuers across the credit spectrum were seen in covered bonds this week with Münchener Hypothekenbank pricing the tightest 10-year deal ever while Bankia priced a 10 year with one of the widest spreads seen this year.

Mandated lead arrangers and bookrunners Crédit Agricole, Natixis and Société Générale have begun placing a €400m loan to support a Chinese conglomerate's buyout of Club Méditerranée.

Outdoor clothing retailer AS Adventure has booked a Friday bank meeting for its €245m acquisition loan, with price talk reflecting investors’ wariness of retail borrowers.

French insurance broker Siaci Saint Honore launched its €285m acquisition loan this morning (Wednesday) and will guide pricing at a Monday bank meeting.

Dutch insurer NN Group enjoyed a favourable reception for its debut senior print on Wednesday, shaking off any concerns about a weaker secondary market to attract a comfortable oversubscription.

Faurecia, the French car parts supplier, sold its €500m unsecured bond on Tuesday to yield 3.125%, joining a parade of high yield cost-saving refinancing issues in March.

Euro covered bond issuers launched benchmarks this week and showed the unrelenting momentum in the compression of spreads has continued unabated.

Survitec, the UK survival equipment provider, allocated its £250m acquisition loan late last Friday (February 27), reverse flexing to more borrower-friendly terms for the second time.

A jump in green bond issuance and investment over the last few years has led to a group of high profile investors to call for the industry to develop global uniform standards. But with the buyside divided over how to classify green bonds and the need for more rules, progress is expected to be slow, writes Christina Khouri.

The bank’s acquisition of Banca Leonardo’s French M&A operations is a game changer, writes David Rothnie.

Madrid has raised 15 year cash with its second bond in as many weeks — and the borrower’s sovereign could break its yield record at a similar tenor on Thursday.

Survitec, the UK survival equipment provider, allocated its £250m acquisition loan late on Friday, reverse flexing to more borrower-friendly terms for the second time.