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It was hardly back with a bang, but Latin American corporate issuance is on the agenda again after Fibra Terrafina sold $425m of seven year notes on Tuesday — some two months after its roadshow.
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Latin American development bank Corporación Andina de Fomento’s (CAF) chief financial officer appeared relaxed at the prospect of rising interest rates in the US after the multilateral clinched a record low coupon and spread on its latest euro transaction.
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The green bond market is heating up after a record breaking month in October. Now November is set to be a month to remember when the history of the asset class is written, write Craig McGlashan and Tyler Davies.
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Snam, the Italian natural gas transmission company, priced a €750m eight year bond on Tuesday, its first issue since it was added to the list of bonds that the European Central Bank will buy as part of its public sector bond purchase programme, or quantitative easing.
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After months of halting deal flow and interruption, Europe's corporate bond market has awakened across the ratings spectrum, write Ross Lancaster and Victor Jimenez.
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The European corporate bond market emerged from earnings blackout in triumphant form this week, as issuer after issuer garnered large order books and new issue premiums flattened down.
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The IPO of Softcat, the UK IT infrastructure and services provider, is “oversubscribed and in good shape”, according to a banker on the deal. The London flotation was widely tipped to value the firm at £500m.
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The European high yield market was this week on its way to catch up with the entire issuance volume priced in October — but bankers said primary action could vanish with just a 20bp NIP rise.
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Showroomprive and Skandiabanken priced initial public offerings at the end of last week, though both struggled in the aftermarket.
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McCarthy & Stone, the UK’s leading builder of retirement homes for sale, closed the book for its London IPO at 1pm on Thursday, saying orders below 180p a share were expected to miss.
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There are strong signs that the missing piece of the green bond puzzle could soon be in place, with hopes growing of a first ever green trade by a sovereign.
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Deutsche Bahn priced a Sfr175m 10 year bond on Monday, its first issue in Swiss francs for over a year.