Santander
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A group of bondholders that lost money after Banco Popular failed last year have applied to join a criminal investigation into the bank’s collapse. The move comes ahead of the Single Resolution Board’s (SRB) expected publication of the valuation report that accompanied its resolution decision.
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A trio of Europe’s less frequent public sector borrowers are set to hit screens for euro transactions on Tuesday, following a long end benchmark from a French agency on January 26.
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When talking to syndicate managers or investors about the first month of 2018, you may think that supply volumes in the euro investment grade corporate bond market have been unusually low. However, a comparison of previous January issuance levels suggests it has been a much more normal start to the year.
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While European Central Bank president Mario Draghi kept firmly to his course of accommodative monetary policy at Thursday’s press conference, the euro strengthened further against the dollar, dragging Bund yields up with it. Lewis McLellan reports.
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Corporate bond investors were offered 10 year and 11.5 year new issues on Wednesday and combined order books of over €4.4bn showed there is significant demand for longer tenors in this market.
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Prisa, the Spanish media conglomerate that owns El País, has launched its fully underwritten €563m rights issue after it was approved by CNMV, the Spanish market regulator, on Thursday.
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Corporate bond investors were treated to a relative feast of issuance on Wednesday following a meagre €850m of supply in the first two days of the week. A trio of higher beta names offered a variety of tenors and spreads for investors to choose from.
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Spain’s 10 year benchmark weighed in at €10bn on Tuesday — its largest deal in four years — and drew an astonishing book of over €43bn.
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Metrovacesa, the Spanish property developer, has opened the books for its IPO on the Spanish stock exchanges with a price range that values it at up to €2.95bn.
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Spain, fresh from an upgrade to its Fitch credit rating, hit screens on Monday to announce a new 10 year euro benchmark. The sovereign will share the market with Agence Française de Développement (AFD).
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Investec plc, the South African bank’s UK branch, has signed a loan for $450m — growing to more than double its launch amount of $200m after being three times subscribed.