Société Générale
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UniCredit issued its inaugural conditional pass through covered bond on Thursday flat to where it would have priced a deal from its soft bullet programme. -
A trio of issuers took advantage of a lack of senior supply this week to price deals with drastically reduced new issue premiums compared to January.
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Snacks and coffee maker Mondelez was one of a string of US companies to access the European bond market this week when it priced €2.6bn of euro and sterling bonds on Wednesday.
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Spain scored its lowest coupon and biggest deal in the 15 year part of the curve on Wednesday, as eurozone periphery sovereigns enjoyed enviable conditions.
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US oil and gas pipelines company Kinder Morgan has mandated banks for a debut bond, as American issuers flood into the euro market.
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A European sovereign mandated banks on Tuesday to sell a long dated euro bond, the first benchmark in the currency so far this week.
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Eiffage, the French construction company, has refinanced €3.3bn of loans, reducing the margins by two thirds compared with what it used to pay - even though revenues are under pressure from a state toll renegotiation.
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Lebanon sold its largest ever new issue on Monday, printing an $800m 10 year and $1.4bn 15 year from combined books of $4.9bn.
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Nationwide and Pohjola Bank broke an almost three week long fast for the euro senior market on Tuesday, setting terms for 10 and seven year benchmarks respectively.
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Lebanon had combined orders of $1.5bn for its 10 and 15 year offering at the last update. Bankers expect the 10 year to be priced inside the borrower’s curve.
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Danish wind turbine maker Vestas Wind Systems, which is unrated, has mandated banks for its second euro bond deal, five years after its debut in 2010.
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