Santander
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Alpha Trains, the rolling stock leasing firm headquartered in Luxembourg, has sold €200m of US private placements. -
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.
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Europe’s high grade corporate bond market maintained its steady flow of new issues on Wednesday, with Infineon Technologies heading into the euro market for a dual tranche hybrid, while BMW drove by in sterling and more names populated the pipeline.
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Crédit Agricole and Banque Fédérative du Cedit Mutuel had contrasting responses for preferred senior bonds in the sterling market on Wednesday, with the French banks deciding to hit the market as members of the UK parliament returned to their seats.
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Verallia, the French maker of bottles and jars, has begun bookbuilding for its €962m IPO, which will be the largest flotation in France more than two years.
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China National Chemical Corp (ChemChina) is seeking lenders’ consent to amend terms of a $5.5bn dual-tranche loan sealed last year, as it undergoes a debt restructuring, according to bankers.
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Wells Fargo hasn't wasted time in the bond market this week. It launched a euro senior bond on Wednesday, a day after raising sterling debt. Concurrently, Spanish lender Kutxabank was marketing a senior non-preferred bond in euros, its debut in the format.
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No less than three dual tranche corporate bond deals hit the market on Tuesday, as BMW, Abertis, and AbbVie jostled for the attention of investors with €2bn, €1.5bn and €1.4bn deals.
