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Top section
E.ON squeezes pricing on €1.6bn deal but pays in attrition
◆ German utility brings two tranches including green ◆ Orders prove more resilient in green tranche ◆ Both legs priced near fair value
◆ Hybrid books hold firm as senior sales shed ◆ Both tranches land far through fair value ◆ Telefónica achieves tight senior/sub spreads
Mediolanum commences smaller European banks' funding drive
◆ Italian lender becomes first lower tier bank issuer to price this year ◆ Deal launched into 'issuer's market' and benefits from tight price versus national champions ◆ Ayvens issues first green bond in its current form
Ile-de-France brushes off politics to price 10 year next to curve
◆ Issuer tests appetite with two stage tightening ◆ New issue concession estimated ◆ Buyers pile into Wallonia's shorter tranche
◆ Hybrid books hold firm as senior sales shed ◆ Both tranches land far through fair value ◆ Telefónica achieves tight senior/sub spreads
Sub-sections
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Issuance 34% ahead of last year’s opening week -
New issue premiums were slim for the LatAm sovereign duo
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Secondary market performance gave Austrian agency confidence to print
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◆ Almost €6bn raised across seven tranches ◆ 12 years is the 'sweet spot' for supply ◆ Single digit concessions offered
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◆ Deal is first from updated sustainability bond framework and follows social debut from 2025 ◆ Earlier return to euros than previous years ◆ Minimal concession paid
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More convertibles expected after strong fund performance
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Implementation necessary after wide-ranging changes last year
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Bank's head of DCM and syndicate chief talk bond market expansion plans
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Loans bankers wary of potential overbuilding amid Europe data centre growth
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Scope of UK regulation set to be more restricted than EU equivalent
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German government will spend €108bn on military next year
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Taxonomy alignment and credible transition plans could be more important for issuers
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Sustainable finance chief leaves Nomura for opportunity in fast-growing region enthusiastic to cut emissions
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Country saw surge in syndicated lending volumes in 2025 and this year is expected to be just as strong
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First exclusively Estonian securitization the European Investment Bank has supported
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Debt financing to become more sophisticated as the race to build data centres across Europe heats up
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JP Morgan sole bookrunner on first jumbo block in a month
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A junior banker respects their MD, but cannot live with his disorganisation. Can things ever improve?
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Solutions exist but political will is necessary
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It will take years and huge amounts of money to get Venezuela in a state to restructure its debt
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The US government extended the deadline for submitting applications for the Paycheck Protection Program by a month on Monday. However, only 19% of the government guaranteed small business loans are left, which may not be enough to support small businesses through to the end of the pandemic.
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Cyprus will return to the market with a pair of taps on Tuesday, hitting screens alongside the European Financial Stability Facility’s new five year line, providing an excellent opportunity to compare Cyprus’s cost of funds with the cost of the European Stability Mechanism’s pandemic crisis support facility.
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Investors in UK universities are struggling to work out just how risky the sector is, as its lucrative international student intake as well as pension liabilities are still unclear. A report published by the Institute for Fiscal Studies (IFS) on Monday estimated that 13 universities may go bust if they do not either carry out debt restructurings or receive government bailouts.
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Sponsored by Islamic Development Bank (IsDB)
Sukuk market’s next chapter: Financing the future, sustainably
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Sponsored by CAF – Development Bank of Latin America and the Caribbean
CAF gearing up to transform regional development
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Sponsored by Emirates NBD Capital
Emirates NBD Capital: An unrivalled conduit for Middle East liquidity
