Santander

UK energy company SSE opened up the week’s issuance for corporate bonds on Tuesday, overcoming less-than-ideal market conditions to gather a solidly oversubscribed order book for an eight year bond.

The UK’s gargantuan £4.2bn infrastructure project, the Thames Tideway Tunnel, will delight institutional investors and bankers alike with as much as £2.8bn of rare inflation-linked bond issuance. Elly Whittaker reports.

WoDS Transmission, the company which will operate the offshore transmission system for a wind farm off the coast of England, is set to make its bond market debut this week with a benchmark sterling print.

KazMunaiGas - Socar - Turkish Airlines - IAG - Northgate

Volkswagen Leasing was the sole issuer to tap the euro market on Monday, brushing off any fears about investor engagement in August by gathering an almost four times subscribed book for a €1.5bn print.

Abbey National launched a minimum €250m reopening of a 2019 floating rate note on Thursday, looking to bring the size of an original €500m deal above €1bn after a series of taps last year.

Mexican building materials company Cemex, has signed $3.79bn of loans including a €620m tranche after an upgrade to BB- from Fitch.

Northgate, the UK van hire firm, has reduced its flagship bank facility and replaced the financing with a €100m private placement from Pricoa Capital.

The euro market provided a mixed bag this week with Royal Bank of Canada pricing a €1.25bn five year FRN just a day after Banco Sabadell was forced to pull a four year bullet.

Spain’s Banco Santander on Thursday announced a 24% surge in first half profits as revenues grew and provisions shrank in its far-flung retail network, although its wholesale banking unit turned in a roughly flat performance.

Fiat Chrysler Automobiles put to rest rumours about the bank group working on its much-hyped spin-off of Ferrari, the Italian luxury sports car manufacturer, on Thursday, as it announced that two European houses and one American one were to lead the transaction.

Industrial conglomerate Cosan looks set to provide the toughest test of investor appetite for Brazilian credit risk since Petrobras published its delayed 2014 financials results in April.