Nomura
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The European Investment Bank opened a tap to its January 2028 Australian dollar Climate Awareness Bond on Tuesday.
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Femsa, the Mexican soft drinks and retail company, surprised some in the equity capital markets on Monday night when it sold €2.5bn of the stake in Heineken that it acquired when the Dutch brewer bough its brewery division in 2010.
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Strong short end dollar demand led a host of issuers to print tight deals this week, including one debut. Investor appetite is expected to stay strong, but bankers are sceptical that there will be much supply.
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On Monday, Japanese brewer Asahi Group brought the fourth European bond issue by a beer producer in Europe in 2017, having roadshowed its debut euro bond the previous week.
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Lloyds Bank issued its first Australian dollar bond through its senior holding company on Wednesday. As the Kangaroo market shows itself receptive to loss-absorbing products, bankers expect more financial institutions to diversify down under.
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Anglo-Dutch consumer goods company Unilever printed the fifth sterling corporate bond deal in as many days on Monday. The £500m dual tranche deal offered investors seven and 12 year tenors. Before this deal it had only 2018 and 2022 maturities outstanding in sterling.
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UK telecoms group Virgin Media was in the market for a £200m add-on of its 2024 receivable financing notes on Monday. By Wednesday, it had sold £450m of the deal, proving that demand is not restricted to the high yield debt market for euros, where three more deals were under way.
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Kommuninvest is set to complete a trio of three year dollar benchmarks from SSAs this week, after Nordic Investment Bank comfortably priced in the tenor on Wednesday.
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Lloyds Bank debuted its first ever Australian dollar bond through its senior holding company on Wednesday. As growing numbers of foreign lenders are drawn to the Australian currency — a consequence of the high rates relative to other markets and a buoyant economy — there is a growing incentive for international borrowers to place bonds down under.
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Three borrowers came to market for dollar paper on Tuesday and another hit screens announcing a transaction on Wednesday, as bankers reported strong conditions in the currency.