Santander

Adif Alta Velocidad, the Spanish state high speed rail network company, received heavy domestic demand for its €600m bond issue on Tuesday, which enabled it to pay a single digit new issue premium, as La Poste had the day before.

Iberdrola sold its second benchmark deal of the year on Monday, gathering together a heavily oversubscribed order book despite coming head to head with fellow Spanish issuer Telefonica.

The covered bond market showed its value this week as it enabled a wide range of banks to borrow in choppy conditions, across a range of tenors.

Shares in Abengoa, the troubled Spanish renewable energy company, plunged again on Thursday and its credit default swap spread widened sharply, on unconfirmed reports in the Spanish press that banks including Bank of America Merrill Lynch, Citigroup and Société Générale had declined to underwrite its rights issue.

UniCredit Bank Austria (Baca) returned to the covered bond market on Tuesday to issue the first Austrian Pfandbrief since the country’s Financial Markets Authority (FMA) announced a debt moratorium on bonds issued by Heta Asset Resolution AG (HAR).

French hotel group Accor showed that demand is strong for even weaker investment grade credits on Thursday, drawing a rush of orders for a new eight year benchmark.

Two French borrowers took advantage of a resurgent corporate bond market on Wednesday, with electrical components manufacturer Schneider Electric and real estate company Icade selling euro debt.

UK energy company SSE opened up the week’s issuance for corporate bonds on Tuesday. While the issuer faced less than ideal market conditions its success presaged a rush of issuance later in the week.

A resurgent Spanish corporate finance market is putting the expansion plans of Spain’s national champions to the test, at home and abroad, writes David Rothnie.

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.