Santander
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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. -
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.
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Energía & Celulosa (Ence), a Spanish producer of eucalyptus pulp and biomass energy, opened a roadshow on Wednesday for €250m of bonds, in a high yield market that bankers see as slowly reviving.
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Bank of Ireland and Caja Rural Unidas issued this week’s only two covered bonds from Europe’s periphery, both offering attractive concessions.
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European and US banks paid up this week as they unleashed a torrent of dollar supply amid improving market conditions.
