Santander

UK supermarket chain WM Morrison Supermarkets, better known as Morrison’s, has triggered an extension option on its £1.35bn revolving credit facility.

RWE, the German utilities group, will float its renewables and power distribution business Innogy on the Frankfurt Stock Exchange in the fourth quarter, the company said in an intention to float document on Monday morning.

Compagnie de Financement Foncier (CFF) enjoyed a strong reception for the seventh 10 year covered bond in little over two weeks.

Transport infrastructure group Ferrovial on Wednesday returned to the bond market after a two year absence, selling a €500m note. It was followed later in the week by two other Spanish corporates.

US metal packaging manufacturer Crown Holdings on Thursday priced a dual currency note that will refinance its loans.

British American Tobacco issued the first corporate sterling bond of the autumn on Monday as it reached for tenor, tapping the market for a 36 year deal.

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.