Natixis

A pair of infrequent euro borrowers, Virgin Money and SBAB Bank, tapped the market for €500m no-grow bonds on Thursday, landing deals at significantly tighter spreads compared with their last euro outings.

Europe’s corporate bond buyers shied away from riskier deals on Wednesday as equity markets plunged, leaving a junk rated hybrid from SES to limp over the line while other credits fared better.

Ryanair, the Irish budget airline, landed a far more solid bond issue on Tuesday than shopping centre operator Unibail-Rodamco-Westfield had a day earlier, as both companies try to recover in sectors ravaged by the coronavirus pandemic.

Europe’s high grade corporate bond investors had an array of novel trades to consider on Monday, with debutants and a rare antipodean issuer marketing euro transactions.

Île-de-France Mobilités, the state-owned authority for public transport in the Île-de-France region, is set to make its first trip to the green bond market. The borrower intends to use green bonds for around 60% of its financing needs until the end of 2025.

Traxys, the Luxembourg-headquartered commodity trader, has signed a $1.33bn-equivalent revolving credit facility, adding lenders to its already hefty bank syndicate.

A trio of senior borrowers paid minimal new issue premiums in euros this week as Swedbank and AIB Group tapped a sweet spot of demand for bail-inable debt, while Macquarie got attractive pricing compared to its dollar curve.

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Sucafina, a Swiss coffee company, and Suelzle Holding, a German steelmaker, have signed sustainability-linked loans, and bankers say there are more from the region coming to fruition.

Sucafina, a Swiss coffee company, has signed a $500m sustainability-linked borrowing base facility, as a small wave of deals from the German speaking region come to fruition.

Macquarie shed over a third of its order book on Wednesday as it priced its third euro deal in 18 months at what was deemed a “very tight” level. It was joined in the senior market by Swedbank, which was issuing its first callable non-preferred bond.

Chinese conglomerate Fosun International has sold its second dollar bond of 2021, raising $500m once again.