Santander
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A €170m bridge facility for Spain’s Coronation Holdco Renovables has received the highest ranking from S&P Global’s green evaluation overview. -
Gentlemen’s agreements seem like a quaint idea when billions of dollars are up for grabs, yet, bafflingly, the capital markets continue relying on them. It’s time to stop assuming borrowers will blindly do what financiers want when there is a cheaper, easier or more sensible option for treasuries to take.
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Public sector borrowers were able to achieve zero or negative new issue premiums and close books early in the euro market on Tuesday as investors piled into haven assets amid a weaker outlook for global growth.
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Klabin, the Brazilian pulp and paper company, returned to bond markets on Wednesday, taking advantage of a flattening yield curve to issue its first long bond, despite a bad day for Brazilian assets.
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Recent supply of additional tier one capital bonds has confirmed to investors that reset spreads are not the only game in town for banks, when it comes to deciding whether to leave an instrument outstanding beyond a call date.
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Prisa, the Spanish media conglomerate that owns El País, has agreed to acquire full control of educational publisher Santillana and will finance the deal with a €200m rights offer.
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The European corporate bond market’s charmed life continued on Tuesday, as if the intensifying crisis of Brexit was just a dream. Two triple-B issuers and one single-A all found the same deep demand that has greeted every deal for the past few weeks.
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Bankers away from Andalusia’s 10 year euro benchmark are heaping praise on the trade, which was priced on Tuesday.
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Triple B-rated Cassa Depositi e Prestiti (CDP) and Andalucia hit screens on Monday, with SSA bankers convinced the deals are indicative of the smaller types of trades expected in the week ahead.
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Solar energy generator Sonnedix has signed a €250m bank facility, as it looks to snap up new projects in OECD countries.
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The extraordinary conditions in Europe’s investment grade corporate bond market, in which three issuers in succession had printed multi-tranche bonds this week with no new issue premiums, produced a new bizarre result on Wednesday when Sanofi, one of the market’s tightest-trading issuers, took its turn.
