Spain
-
Infrastructure and renewable energy firm Acciona is marketing a €100m green promissory note, one of only a handful of green Schuldscheine ever completed and a rare deal from a Spanish borrower. -
Telefónica returned to the euro bond market after only a month with a more vanilla offering than its last issue, a hybrid bond, as investors favoured the shorter piece of its dual tranche offering.
-
On Monday Spain's Ibercaja returned to the covered bond market for the first time since 2010 to issue the tightest Spanish deal this year. Although the book contained fewer orders than many Spanish covered bonds, the scale of excess demand was above average.
-
The covered bond pipeline grew this week as Ibercaja and BNP Paribas Fortis mandated leads for roadshows and Nordea signalled it could be ready to return soon.
-
Block issuance has been active this week, with three notable accelerated bookbuilds all sold well. Monday also brought the announcement of what could be the largest IPO in London this year.
-
Two equity block trades came out in the European market on Tuesday evening, both of which achieved successful sales.
-
The Spanish bank has mandated leads for a roadshow to market what will be its first covered bond in six years.
-
One of the most regular names in Europe’s equity block trade market, Abertis Infraestructuras, was the subject of another deal on Monday night, with regular bookrunners UBS, Bank of America Merrill Lynch and JP Morgan at the helm.
-
Shares in Telefonica, the Spanish communications giant, fell as much as 4.75% on Friday morning after the Spanish communications giant decided late on Thursday to scrap the IPO of Telxius, its telecoms infrastructure division, after it failed to attract enough demand from investors at an acceptable price.
-
Indra Sistemas, the Spanish software company, joined this week’s flurry of convertible bond deals on Wednesday, by launching a buy-back and new issue, rather like Crédit Agricole had done the day before with its exchangeable into Eurazeo shares.
-
Spanish natural gas utility Enagás is in talks with its relationship banks to refinance a €1.5bn revolving credit facility.
-
