Nomura
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Aroundtown, the Frankfurt-listed property company, opened 2021’s corporate hybrid capital issuance on Monday. More subordinated deals are already being lined up. -
Banco Sabadell cut a lone figure on Friday as it ventured out into a quieter market to print a €500m tier two — its first bond since the proposed merger with BBVA fell through last November,
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The UK Debt Management Office has chosen the banks to lead the sale of a new 25 year conventional Gilt via syndication, following support for this maturity by Gilt-edged Market Makers (GEMMs) and investors in a consultation at the end of November.
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State of North Rhine-Westphalia’s third and biggest century bond built an impressive order book in terms of size and number of accounts from a diverse range of investors this week, proving this niche part of the curve is increasingly popular with buyers.
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The Nordic Investment Bank became the latest public sector borrower to achieve a strong result in the sterling market this week with a £600m print.
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Public sector borrowers soaked up huge demand in the euro market on Tuesday including the State of North Rhine-Westphalia, which printed its biggest ever 100 year bond despite offering a yield of less than 1%.
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Public sector borrowers wasted no time in getting back to business in the euro market in 2021 with one live deal and four mandates all hitting screens on Monday as issuers look to take advantage of an almost full trading week and a supportive market to make a dent in their brand new funding programmes.
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BPCE incorporated a call option into one of its Samurai deals for the first time on Thursday, when it raised about $430m equivalent of non-preferred senior paper, including one social leg.
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Grand City Properties, a German real estate company, opened books on a hybrid trade on Thursday, leaving some corners of the market surprised that investors would still be open to taking on high beta assets this late in the year.
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Turkey's largest city, the Istanbul Metropolitan Municipality, hit markets on Wednesday, seeking to raise dollars in a rare debt-raise. The deal is one of three major bonds from Turkish issuers in the last week.
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Kommunalbanken, the financing agency for Norwegian municipalities, and L–Bank, the development bank for the State of Baden–Württemberg, built well covered order books as they brought what will likely be the SSA market’s final dollar benchmark deals of 2020.
