Santander

After a string of strong syndications and auctions from the eurozone periphery during the last seven days, issuers from the region could be set to enjoy even lower yields thanks to the latest monetary stimulus package from the European Central Bank.

After over a month with no Obligations Foncières supply, Caisse Française de Financement Local (Caffil) and Compagnie de Financement Foncier (CFF) returned to the primary covered bond market on Monday.

Lenders and bondholders representing 40% of Abengoa’s creditors joined efforts on Thursday with the company’s founding family, the Benjumeas, to present a rescue plan of a name that has become Spain’s most infamous borrower of recent times.

All bonds great and small from the Iberian market were available on Tuesday, as the Spanish sovereign brought a long-awaited 30 year syndication and the Community of the Basque Country made a rare visit to the market.

Public sector borrowers from the eurozone periphery are preparing a flurry of issuance in the next few days, with one still smarting from a change to its rating outlook late last week.

UK metering services company, Smart Metering Systems (SMS) has signed a £150m club loan and increased the deal size to take advantage of a government scheme to boost smart meter installation.

Santander Consumer Finance added to a run of FIG Swiss franc issuance this week, printing just its second bond in the currency.

There may be some signs of life in Latin America’s new issue market but, while sovereigns may be selling, companies are keener to buy back bonds than issue new ones.

A group of four banks have launched a $300m three year bullet that marks Santander Consumer Finance’s (SCF) debut in the Asian syndicated loan market.

Banco Santander Chile will buy back more bonds than originally planned after its tender offer was fully subscribed before the early tender deadline on March 1.

Daimler brought its second triple tranche bond of the year to market on Tuesday, as primary issuance in the corporate market began to crank up.

Commodities firm Glencore released its preliminary results on Tuesday, revealing annual losses to equity holders of almost $5bn. The release of the annual report paves the way for the general syndication of the group’s loan after a successful first stage in February.