Spain

Spanish clothing retailer Cortefiel priced its leveraged buyout bond on Thursday, in a sign that the high yield market is open for challenging credits.

On Wednesday, Spanish electricity utility Iberdrola became the third corporate issuer in a week to print a green bond in euros. The €750m 10 year deal took the total corporate green bonds issued since the summer break to €1.95bn.

A pair of European agencies landed in euros on Tuesday, attracting huge books and tightening their spreads, indicating a promising backdrop for NRW.Bank’s green bond scheduled for Wednesday.

On Tuesday, Telefonica printed the largest single tranche of the day, with a €1.25bn deal with a January 2028 maturity. Despite competing with three other corporate bond deals in the euro market, the deal built a €3bn order book and printed with a single digit new issue premium.

A pair of public sector borrowers are set to bring their longest dated euro benchmarks in some time on Tuesday, as underlying rates for both issuers fell slightly on Monday.

A €600m two tranche bond issue to finance the Spanish retailer Cortefiel’s LBO will be the euro high yield market’s starting shot for the second half of the year.

Neinor Homes, the Spanish builder, has chosen its first international bank as a lender this week, instead of a domestic bank. Its CEO, Juan Velayor, explained why to GlobalCapital.

Spanish builder Neinor Homes will accelerate a land purchase programme after signing a new loan with JP Morgan, it said in a regulatory filing on Tuesday.

Aier Eye Hospital has raised €174m ($205m) from seven banks, helping fund its acquisition of Spanish company Clinica Baviera.

Eurazeo, the private equity firm, is offering a loan to fund the leveraged buyout of Spain’s Iberchem, a fragrance and flavour maker, from Magnum Capital.

Conditional books are already oversubscribed for the €240m term loan that funds the Ontario Teachers' Pension Plan's acquisition of Mémora, an Iberian funeral services provider.

Basque telecoms firm Euskaltel gained access to a third market in northern Spain after the acquisition of Telecable from Zegona Communications, which it is funding with loans and equity.