Santander
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Telefónica returned to the hybrid capital market on Monday, six months after its €1.75bn transaction in September, to sell another deal of the same size. -
Grupo Aldesa, a Spanish civil engineering and construction company, wants to sell a €250m debut bond to repay debt.
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Peruvian real estate company Portales and Brazilian meatpacker Minerva announced roadshows at the end of last week as LatAm continues to enjoy strong borrowing conditions despite a more hawkish US Federal Reserve.
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Banco do Brasil brought its debut euro transaction up to €1bn with a well-timed €300m tap this week as the issuer took advantage of a rally in Brazilian paper as accounts dumped Russian risk. And a chunky new issue concession ensured a strong secondary performance, even as comments about quantitative easing and interest rates from the US Federal Reserve put pressure on markets.
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Abengoa, the Spanish engineering and renewable power group, wants to issue €400m of seven year senior notes on Friday to prefund a 2015 bond maturity.
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Brazilian state-owned lender Banco do Brasil tapped its euro denominated bonds due 2018 for a further €300m on Wednesday after raising around €750m of demand before bond markets dropped on the back of the US Federal Reserve’s latest statement.
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Investors jumped on the opportunity to pick up exposure to rare insurance company subordinated debt, as Coface’s €380m 10 year bullet bond was prepped to price inside of comparables on Wednesday.
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Investors in long dated senior unsecured debt appeared to have abandoned their yield targets this week, sending coupons below 3% on a Banque Fédérative du Crédit Mutuel fixed rate transaction, amid one of the busiest weeks of activity in the senior unsecured financials market this year.
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Santander and BNP Paribas printed their first dollar trades of 2014 as demand for investment grade paper continued its strong run.
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CNH Industrial has sold its first bond since the merger of Fiat Industrial and CNH Global, raising €1bn and attracting a €3.5bn book from over 280 accounts before reconciliation.
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The high yield bond flurry by Spanish issuers carried on this week, with strong issues from two debut borrowers. Solid demand allowed Grupo Isolux Corsan to increase its bond by €200m, while Grupo Antolin-Irausa accelerated its deal by a day.
