News content
-
Amadeus, the Spanish IT company that provides systems for the air travel industry, sold its fourth deal in as many consecutive years on Thursday. The new deal was its first multi-tranche offering and the eight year tranche was the longest the company had offered to date.
-
After a drought of new investment grade corporate bonds from the telecom sector, French operator Orange made it two in two days after Telefónica sold a seven year trade on Tuesday. Orange offered a 12 year tranche as well as another seven year offering, but had to leave something on the table to achieve a €2bn print.
-
On the same day BMW reopened the euro corporate bond market following the summer break, Daimler reopened the sterling market. On Wednesday, BMW decided to follow a similar path to Daimler for its own sterling deal, but could not achieve quite the same success.
-
A day after Swedish bearings and seals manufacturer SKF announced a tender offer for its outstanding short dated bonds, it sold a €300m seven year bond to finance the buy-back.
-
European corporate bond investors have enjoyed the extra yield a bunch of new 12 year bonds have offered in the last two weeks, but are warning that issuers may need to find a new trick soon.
-
Swiss healthcare company Roche took advantage of upcoming redemptions and a new investor base following its rating upgrade by Moody’s, to raise CHF900m ($922m) from a dual tranche offering.
-
China General Nuclear Power Corporation sold its second green bond in the euro market on Tuesday, nine months after its first success in the format. Last time the company sold green alongside five and 10 year conventional dollar bonds and this time it used a similar combination, replacing the 10 year dollar option with 30 year notes.
-
Spanish telecoms company Telefónica sold its second euro-denominated senior bond of 2018, benefitting from one its quietest years of issuance with a single digit new issue premium.
-
Italian gas distributor 2i Rete Gas has dared to test the corporate bond market’s appetite for issuers from the country with a seven year trade. With its government budget on the horizon, some market participants said this deal could make or break the market for Italian issuance in 2018.
-
A string of call dates is approaching for Middle East perpetual tier one bonds and DCM bankers are starting to look at whether these will be refinanced — and if so, how.
-
South African precious metals mining company Sibanye Stillwater has launched a tender process to repurchase some of its high yield and convertible bonds.
-
Dutch brewer Heineken took advantage of a quiet market on Monday’s US Labor Day holiday to print a €1.25bn dual tranche deal with new issue premiums some participants saw in single digits.