Société Générale
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Mansan Consumer has priced its landmark 10 year bond that is backed by the Credit Guarantee Investment Facility (CGIF). The VND2.1tr ($98.6m) is Vietnam’s first corporate bond in the maturity since 2007.
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Akbank’s German subsidiary, Akbank AG, will begin roadshowing its inaugural bond with investor meetings next week. But with few EM banks issuing from developed market subsidiaries, the price discovery process will be more difficult.
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Telefónica, the Spanish broadband and mobile phone company, issued an €850m hybrid bond on Thursday. The perpetual non-call five year deal was priced just 3bp outside the issuer’s curve, according to one banker, a good omen for hybrids being roadshowed by Volvo and Santos. -
Burberry Group, the UK fashion house, has refinanced a £300m five year revolving credit facility.
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German jewellery chain Christ is allocating its €220m acquisition loan this week, in a bank-friendly deal that was priced in line with guidance.
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Spie, the French engineering and communications firm, has launched a €725m loan to refinance its debt structure and pay a dividend.
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Spie, the French engineering and communications firm, has launched a €725m loan to refinance its debt structure and pay a dividend.
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The Republic of Indonesia has picked the banks that will sit on its bond panel next year, dropping one bank and appointing two new members.
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German jewellery chain Christ is allocating its €220m acquisition loan this week, in a bank-friendly deal that was priced in line with guidance.
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Instituto de Crédito Oficial saved precious basis points on Tuesday, printing a short two year deal against a backdrop of falling periphery eurozone sovereign yields following some very dovish comments by European Central Bank president Mario Draghi late last week — despite some ECB officials being more hawkish since. Spain also benefitted at a bill auction the same day, while Portugal lined up an exchange offer and Italy unveiled its target for a bond auction on Thursday.
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Thursday was a busy day for European investment grade corporate bonds, with €4.9bn issued in euros and sterling. But with a great deal of diversity of issuers, maturities and currencies, the market had more appetite for some than for others.
