Santander
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CPI Property, the Frankfurt listed property owner, has signed a new €700m revolving credit facility, bumping up the size of its main bank line as lenders say liquidity is still a focus for corporates. -
CNH Industrial, the US-Italian agricultural and construction machinery maker, cruised through the bond market on Tuesday, as bond bankers puzzled over whether the Thanksgiving holiday in the US on Thursday means this will be a short week for issuance.
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The UK Municipal Bonds Agency is set to come to market for its third bond ever — this time, on behalf of Warrington Borough Council.
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Small transactions reached big audiences in the financial institutions bond market this week, as investors realised they would need to consider buying sub-benchmark supply in order to make the most of a dwindling deal pipeline. Tyler Davies and Frank Jackman report.
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French companies Schneider Electric and LafargeHolcim pushed the fledgling sustainability-linked bond asset class to new levels this week, helping quell vocal concerns from some investors that having an unspecified use of proceeds means the structure has no place in ESG portfolios, write Mike Turner and Aidan Gregory.
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Engie, the French electricity and gas company, and UK transport firm National Express enjoyed bumper demand for hybrid capital issues on Thursday, as some market participants argued the coronavirus pandemic had changed the way hybrids are seen by issuers.
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Orbit Capital, the UK housing association, had its £300m November 2038 bond issue more than five times subscribed on Tuesday, as more borrowers line up trades in a rip-roaring week for new corporate bond issuance in Europe.
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Gategroup, the Swiss airline hospitality company, has negotiated with lenders to extend the maturity on its syndicated loan facilities as part of a major debt restructuring for the Covid-battered firm.
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Mediobanca was swamped with orders for a small tier two on Monday, as investors welcomed a rare opportunity to gain subordinated exposure to the Italian bank. Its deal was further supported by another positive development in the race to roll out a vaccine for Covid-19.
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Klépierre, the French shopping centre operator, and UPM–Kymmene, the Finnish paper company, were two of a handful of names to receive raucous receptions from the bond market this week. Issuers benefited as a wave of market-friendly news turned the focus in Europe’s high grade bond market back to a risk on mode.
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Financial institutions jumped into action this week, as positive news on the development of a Covid-19 vaccine led to superlative funding conditions in the euro market.
