Raiffeisen Bank International AG
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European corporate bond investors showed they were hungry for paper on Thursday, despite the gloom infecting equity markets this week about the prospect of a restart to the China-US trade war. A flurry of issuers came to the market, hot from roadshows, and got plenty of over-subscription while slashing their spreads by 20bp to 30bp.
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Switzerland’s Coca-Cola HBC has amended and extended its revolving facility, with the soft drink bottler supersizing its loan to €800m and including a sustainability element.
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The Development Bank of the Republic of Belarus raised $500m with its first ever Eurobond on Wednesday, slicing 25bp off its yield from initial price thoughts.
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The Development Bank of the Republic of Belarus has released initial price guidance for its Eurobond debut at 7% area for a five year Reg S/144A dollar bond. A banker away from the deal called the level fair.
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The Basque Government was able to tighten pricing by 5bp from initial price thoughts as it received soaring demand for its 10 year sustainable bond on Tuesday — its biggest public issue since 2009.
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Austrian plastics maker Borealis has returned to the Schuldschein market, seeking euros and dollars.
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Moody's has published a new issue report for the mortgage covered bond programme of Raiffeisen Bank International (RBI), assigning the bonds which are expected to be retained for central bank repo' purposes, a rating of Aa1.
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Investment grade loans bankers are pinning more hope on the coming quarter after the slowest start to a year in the past five years.
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Land Berlin saw orderbooks swell to around four times the size of its €500m no-grow trade on Tuesday, with leads saying the 15 year maturity is the sweet spot to attract bank treasuries.
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Raiffeisen Bank International has launched a digital platform for Schuldschein and loan transactions, called Yellowe.
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Strabag has signed bank facilities totalling €2.4bn, the Austrian construction and technology firm becoming the latest borrower to refinance early amid cheap funding conditions.
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SSA bankers are expecting another muted week of issuance as the market heads into the end of the quarter, with just a no-grow trade for the State of Berlin announced so far on Monday.