Santander

The IPO of Aedas Homes, the Spanish home builder, has been priced at €31.65, the bottom of the €31.65 to €33.15 initial range, after receiving orders from almost 100 investors.

Salini Impregilo, the Italian construction firm, printed new bonds with a coupon under 2% on Thursday, becoming only the third high yield borrower to duck under the hurdle this year.

The price range for the €680m IPO of Aedas Homes, the Spanish home builder, has been narrowed to €31.65 to €32.40, the bottom half of the initial range. The deal is covered throughout that range, according to a banker involved in the deal.

Corporate bond deals are often executed on Fridays to give issuers some space in crowded weeks. However, Friday was one the busiest days of this week, with both euro and sterling investors offered long dated deals to consider.

Brazilian steel producer Gerdau this week became the latest Latin American issuer to take advantage of hugely benign conditions to issue new debt inside where its existing curve was trading.

Empark, Vallourec and Dufry met strong demand for their new high yield bonds this week as investors opened their deep pockets.

Three high yield bond borrowers will be roadshowing for a combined volume of €1.2bn of new high yield bonds this week, with a mixture of familiar refinancing and leveraged buyout funding.

Befesa, the Spanish metals recycling group, has joined the queue of companies going public in Europe this autumn, having announced its intention to float on the Frankfurt Stock Exchange.

Sterling corporate bond investors had three tranches of property company debt to evaluate on Wednesday, as Segro issued a £750m 12 year and 20 year deal and Notting Hill Housing Trust a £400m 31 year.

On Wednesday sterling corporate bond investors had to evaluate the three latest tranches from property companies as Segro sold a £750m 12 year and 20 year offering and Notting Hill Housing Trust brought a £400m 31 year deal.

Sterling corporate bond investors had three tranches of property company debt to evaluate on Wednesday, as Segro issued a £750m 12 year and 20 year deal and Notting Hill Housing Trust a £400m 31 year.

Brazil followed Mexico’s example in making the most of idyllic issuance conditions on Tuesday, though some investors argued that Brazil’s $3bn deal demonstrated that the market retained some sense of discipline.