NatWest Markets
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A pair of sovereigns privately placed century bonds this week, with one of the borrowers — Ireland — dipping below the 1% point for the first time at this sort of tenor. -
Greencoat Renewables, the Irish wind farm fund, has made an acquisition of around €60m acquisition in Finland, a few months after the company sold equity to free up debt for purchases.
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The European Investment Bank and Caisse d’Amortissement de la Dette Sociale (Cades) took centre stage in the public sector dollar market this week, ahead of the Lunar New Year, with EIB selling its first 10 year benchmark in the currency since 2015.
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The European Investment Bank became the latest SSA to hit the unusually popular 10 year dollar bucket on Tuesday, raising an impressive $4bn. The European supra was joined at five years by a jumbo trade from Caisse d’Amortissement de la Dette Sociale.
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Spain will lead the public sector borrowers' charge into the primary bond market this week with its second ever 50 year benchmark syndicated deal ahead of the Chinese New Year holiday.
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The International Development Association sold its second sterling bond this week to extend its curve in the currency from December 2024 to September 2027.
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Three eurozone sovereigns all extended their euro curves with huge order books for syndicated transactions this week in a sign of rampant investor appetite for long-dated debt.
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Whitbread, the UK hotel and pub company, enjoyed roaring demand for its debut green bond on Wednesday, as it managed to convince investors that it can plan for life after lockdowns.
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Telecoms firm Telefónica and utility Iberdrola showed the depth of demand for green hybrids this week, with both Spanish companies building large order books.
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Belfius Bank and Santander found strong support among bank treasury investors in the euro market this week, helping them to print new preferred senior deals at very low yields.
