Natixis
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Latvia has completed its 2018 funding programme with a €350m dual tranche deal, picking up the rest of the cash it was unable to raise in May. -
The corporate bond market started at a frantic pace on Tuesday with five deals pricing. But on Wednesday French tyre manufacturer Michelin found its patience was rewarded with a chance to dominate investors’ attention and it was able to build the largest order book for a 20 year euro tranche in 2018.
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The corporate bond market started at a frantic pace on Tuesday with five deals pricing. But on Wednesday French tyre manufacturer Michelin found its patience was rewarded with a chance to dominate investors’ attention.
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Kuwait’s Zain Group has signed a $700m five year revolving credit facility, with all lenders scaled back by the telecoms company following an oversubscription.
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Russia’s Mechel has signed a $1bn-equivalent loan facility, as the metals and mining group pushes ahead with plans to restructure its debt portfolio by the end of 2018.
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World Bank scored an average of 7.27 with its first euro benchmark in almost two years, with voters particularly praising the deal in the structure/maturity category.
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Natixis has made three senior appointments in Hong Kong to support its growing investment banking activities in Asia Pacific.
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World Bank returned to the euro benchmark market for the first time since October 2016 on Wednesday, amid an attractive euro/dollar basis swap for dollar funders.
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The World Bank has chosen leads to run a euro benchmark that will be the first from the borrower in nearly two years.
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The IPO of Navya, the French maker of driverless cars and other vehicles, was priced at €7 on Monday, below the initial €9 to €12 range, after the company extended the original bookbuilding period last week.
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Electricity network operator Terna has sold the first investment grade corporate bond from an Italian issuer since the formation of the country’s new government and was rewarded with an order book that was more than 5.5 times subscribed, demonstrating an investor base that is open to Italy risk once more. Nigel Owen reports.
