Nordea Markets
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Compagnie de Financement Foncier (CFF) enjoyed a strong reception for its fourth covered bond of the year, the seventh 10 year issue in little over two weeks. Despite the surfeit of 10 year supply and meagre spread to OATs, the transaction was smoothly executed.
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Compagnie de Financement Foncier has mandated leads for the first French covered bond since mid-June, the bank’s fourth this year and the sixth 10 year in two weeks.
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HSBC and Santander UK found strong demand for senior bonds issued from their holding companies this week, revealing an opportunity for more deeply subordinated supply such as Nordea’s tier two benchmark.
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HSBC and Nordea looked to reopen euro issuance for FIG borrowers this week, as investors showed strong appetite for riskier and higher yielding debt after the summer period.
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Finnish commercial real estate company Citycon was the second Nordic borrower to print bonds in two weeks, following a three month spell when no corporate borrowers from the region came to the market. -
Chr. Hansen, the Danish bioscience company, has added two non-Nordic banks to its core syndicated loan in a €700m refinancing.
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A surfeit of supply hit the long end of the covered bond curve this week as issuers piled in to take advantage of extraordinarily cheap funding conditions that are unlikely to last long. Bill Thornhill reports.
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Hemso Fastighets and Galp Gas Natural Distribuiçao on Thursday mandated banks to issue bonds during the first two weeks of September.
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The gap to repay a €2.7bn bridge facility that supports HeidelbergCement's purchase of Italcementi is set to close once the former cashes in the sale of its West Virginia factory.
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Finnish paper and packaging group Powerflute picked two banks to refinance a €120m acquisition facility.
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Finnish crane manufacturer Konecranes has signed €1.5bn of loan facilities for its revised agreement to purchase a unit of US firm Terex.
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BC Partners sold a 7.8% stake in Com Hem, the Swedish cable TV operator and broadband provider, through an accelerated bookbuild led by Morgan Stanley on Monday night.
