Spain
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Spanish online travel agency eDreams increased the size of its bond to €435m on Tuesday, a deal which investors struggled to find comparables for. -
Telxius, the telecoms infrastructure division of Telefonica, has signed a €190m with the 10 banks which are arrangin its IPO, for which books opened yesterday.
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Books opened on Tuesday afternoon for the IPO of Telxius, the telecoms infrastructure division of Telefonica — an unusual company that combines telecoms towers with submarine fibre optic cables.
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The Autonomous Community of Madrid has announced that it will sell its third benchmark of 2016.
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German healthcare group Fresenius has mandated three banks to provide a bridge loan for its €5.76bn acquisition of Spain’s largest private hospital group, Quirónsalud, and may add a fourth, according to a banker close to the deal.
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Instituto de Crédito Oficial re-entered the dollar syndication market for the first time since 2014 this week, with a deal that bankers said both highlighted the faith investors have in the Spanish recovery story and the sheer depth of demand in the currency.
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Spanish telecoms provider Telefónica latched onto the swell of investor demand for riskier corners of the European investment grade corporate bond market on Thursday as it issued a €1bn hybrid bond.
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Transport infrastructure group Ferrovial on Wednesday returned to the bond market after a two year absence, selling a €500m note. It was followed later in the week by two other Spanish corporates.
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Instituto de Crédito Oficial showed on Wednesday that the strong demand present in the dollar market over the last few months is not solely the preserve of the highest rated issuers.
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A trio of public sector borrowers are set to spray the short end of the dollar curve with deals on Wednesday, including one making its first visit in over two years, as markets priced in an ever decreasing chance of a rate rise at the next US Federal Open Market Committee meeting later this month.
