Santander
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High grade corporate borrowers were quick out of the traps on Monday, cramming in before the blackout period to raise around €5bn-equivalent of bond funding from order books many multiples of that. -
Anglo-Australian firm BHP Group has trimmed down the size of its revolving credit facility, with the mining and extraction multinational agreeing a $5.25bn deal with lenders.
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Crédit Agricole launched a non-preferred senior bond on Monday in green format, attracting investors who put in over €2.3bn of orders at guidance.
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One of the lessons from the Credit Suisse spy scandal is that there is a dearth of talent capable of leading Europe’s banks through their most challenging period. A succession crisis looms, writes David Rothnie.
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Lesser-known Italian financial institutions have moved to the front of the pipeline in the financial institutions bond market, as larger and more frequent funders begin slipping into blackout periods ahead of reporting third quarter earnings.
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Paddy Power’s prospective US private placement debut has been kicked into the long grass, according to sources familiar with the situation, as the Irish gambling company instead focuses on a merger with Canada’s PokerStars.
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Alpha Trains, the rolling stock leasing firm headquartered in Luxembourg, has sold €200m of US private placements.
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Santander Consumer Bank was more than three times subscribed for a tightly priced €500m five year preferred senior bond this week — its second offering in the asset class.
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Banco Santander hit screens this week to sell its first green bond. The deal attracted orders more than five times its €1bn size.
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The financial institutions bond market has absorbed an enormous volume of supply over the past month, putting a strain on trading levels for outstanding securities. FIG bankers nonetheless expect that spreads could start to tighten once more in the coming weeks, amid a calmer flow of new issuance.
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Northern Powergrid, a rare issuer in the UK market, issued a 40 year sterling bond on Wednesday that found a strong reception, in a week that has proved patchy for issuers in the currency.
