Santander
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Western Power Distribution, the UK electricity distribution network operator, kept the sterling corporate bond market’s run of form going on Wednesday with a £500m eight year issue. -
October has been one of the worst months in recent years for FIG issuance. But while some stability — and even a couple of issuers — returned to markets this week, bankers fear that elevated premiums will keep issuance suppressed. November will reveal all about the state of FIG issuance, writes Tyler Davies.
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Autoroutes Paris-Rhin-Rhône, the French motorways group, won a €4.9bn order book for a €500m eight year no-grow bond issue on Thursday, as investors returned in force to the primary market.
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Market uncertainty surrounding Wednesday’s Federal Reserve meeting gave way to a healthy primary session on Thursday, as Santander Consumer Finance, Old Mutual and SNS Bank all took the opportunity to grab funding.
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Polska Grupa Energetyczna, the Polish state-owned power company, has signed Z2bn (€467m) of loans with the European Investment Bank, following a Z5.5bn(€1.3bn) syndicated loan.
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Profits at Santander’s global corporate banking arm fell as the bank faced higher costs developing new franchises.
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Western Power Distribution, the UK electricity distribution network operator, kept the sterling corporate bond market’s run of form going on Wednesday with a £500m eight year issue.
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Covered bonds issued this week from banks in Italy and Portugal were a roaring success from the sellers’ point of view. But none could have been done without the European Central Bank’s help.
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The UK Debt Management Office built its largest ever order book for a syndicated bond on Tuesday, but bankers away from the deal felt it was the trade’s timing that was particularly impressive.
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Abengoa, the Spanish renewable energy company, suffered yet another unsteady trading session on Thursday over revelations in a leaked KPMG report of a €250m cash deficit.
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The UK Debt Management Office built its largest ever order book for a syndicated bond on Tuesday, when it printed a deal with the longest duration in its conventional Gilt portfolio.
