Santander

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.

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.

FTSE 250 bus and rail company Go-Ahead has signed a £200m bridge loan to insure against execution risk when it comes to refinance a sterling bond. A number of investment grade companies have been exercising precautionary liquidity management of late, said one banker in London.

Pesquera Exalmar, the Peruvian fishmeal farmer, achieved the majority consent from its bondholders this week that it needed to issue a senior secured loan.

Santander UK issued a highly oversubscribed senior unsecured euro benchmark from its holding group entity (holdco) on Thursday with virtually no concession, further illustrating the market’s desperate thirst for this higher yielding asset class.

UniCredit Italy took advantage of constructive conditions and scarce Italian covered bond supply to launch a 10 year on Wednesday. The bank was rewarded with a well oversubscribed order book while paying little new issue premium.

Hemso Fastighets and Galp Gas Natural Distribuiçao on Thursday mandated banks to issue bonds during the first two weeks of September.

Pesquera Exalmar, the Peruvian fishmeal farm, has extended the deadline of a tender offer and consent solicitation on its 7.375% bonds due 2020 from August 19 to August 30 as it seeks bondholder approval for a new senior secured loan.

Abengoa, the Spanish engineering and renewable energy firm, is heading to its October make-or-break deadline convinced that 75% of creditors will support its final restructuring debt plans, thus avoiding liquidation.

After a busy year of loan financing, investment manager Foresight Solar Fund is ready to make acquisitions, after under-performing in the first half of the year.

New money, new bonding facilities, a new army of investment funds, and a 97% debt write off were unveiled on Thursday in the latest plan to rescue the Spanish renewable energy company Abengoa from bankruptcy.

Cineworld, Europe's second largest cinema operator, has increased the size of its revolving credit facility by £25m to fund its acquisition of five UK cinema sites.