Santander
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Grupo Antolin, the Spanish car interiors maker, on Wednesday sold €400m of notes at 5.125% to repay a $525m bridge loan that funded its purchase of Magna International's car interiors business. -
Oi, the Brazilian telecoms company, is seeking to issue a €500m high yield bond, and buy back four old euro bonds.
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Royal Bank of Scotland has been mooted as one candidate to print additional tier one debt before the summer, after Santander UK this week proved the market is ready for more supply.
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Extreme swings in European government bond yields rocked markets this week, but worse could be yet to come.
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Santander UK will look to build out its holdco curve in both tier two and senior unsecured as early as the autumn, after impressing with its debut additional tier one bond this week.
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Santander UK’s debut additional tier one (AT1) impressed on Wednesday, drawing £5bn of demand and lending confidence to a string of issuers looking to print before the summer amid tricky conditions.
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Nexans, the French cable manufacturer, became on Friday the first double-B rated issuer to pull a European high yield bond this year. It cited unfavourable pricing and volatility in the market.
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Home Depot and Time Warner led a flurry of corporate borrowers on Thursday as the dollar market closed in on a record month for issuance.
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Santander UK is poised to issue its debut additional tier one transaction, a potentially crucial deal in a market without benchmark non-dollar supply in months, writes Tom Porter.
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A tantalising glimpse of a final resolution to Greece’s negotiations with its creditors sent periphery eurozone yields plunging on Wednesday, ahead of an Italian auction on Thursday.
