Natixis
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Five new corporate bond issues including a €3bn issue from AT&T hit the market on Wednesday, after Danaher had completed its €6.25bn deal on Tuesday, leaving room for more companies to borrow. -
A new flurry of investment grade corporate bond issuers jumped into the market on Wednesday morning, after Danaher priced its €6.25bn five-tranche Reverse Yankee note. Getting that deal out of the way gave other corporate borrowers room to bring bonds of their own — and plenty are expected to in the run-up toe the European Central Bank's monetary policy announcement on September 12.
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French bank BPCE has mandated lead managers for a potential five year senior preferred deal in the Australian dollar market — its first this year in the currency.
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Natixis has been building out its Asia Pacific presence, making some senior changes to its global markets team and adding three new bankers.
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MEA-based waste management services provider Averda has amended and extended an existing term loan facility, garnering 70% oversubscription.
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Demand for the Republic of Finland’s latest bond was high on Wednesday as it printed through the ECB deposit rate to sell “the most expensive syndication of all time”, according to a banker on the deal. The five year note came 29.9bp richer than Austria’s previous record holding deal, another five year note sold in June.
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Natixis has relocated London-based Kwong-Wing Law to Hong Kong to be its infrastructure finance head for Asia Pacific.
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KBC only needed to offer a slim new issue premium to attract €2bn of demand for a new tier two bond this week. The deal pricing was squeezed by 20bp from initial price thoughts, resembling senior deals from other issuers.
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KommuneKredit failed to set the market alight with the first euro syndicated public sector bond since mid-July, excluding deals from German Laender. The Danish agency only managed to sell €500m for the 11 year benchmark and was unable to tighten the spread during pricing.
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Danish agency KommuneKredit mandated banks on Monday for its first euro-denominated bond of the year and the first euro syndicated public sector bond since mid-July, excluding German regions.
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Big banks and boutiques alike are ramping up operations to boost revenues in France, Europe’s most competitive investment banking market. But is there enough business — and talent — to go around? By David Rothnie.
