UniCredit
-
Investment grade corporate bond market players only had to wait one day for the first new deals of 2018. Renault and BMW both brought new paper to market on Wednesday, selling a total of €2.75bn of bonds with little premium. -
Italian banks are expected to begin issuing non-preferred senior bonds for the first time, after the country’s parliament approved a package of reforms as part of its latest budget law.
-
UniCredit was able to sell a new additional tier one (AT1) at close to fair value this week, after updating the market about its progress with its strategic plan at a conference in London.
-
-
UniCredit followed up on its capital markets day by announcing the sale of a new additional tier one (AT1) bond on Wednesday.
-
The European Central Bank has lowered UniCredit’s Pillar 2 capital requirements by 50bp, recognising the Italian lender’s latest efforts to clean up its balance sheet.
-
Austrian oil and gas company OMV discovered on Thursday that investors are far from finished with the investment grade corporate bond market in 2017. The strength of demand for its new nine year deal resulted in the company printing its largest ever bond.
-
Deutsche Post DHL Group secured excellent terms on Wednesday when it issued a €1bn convertible bond at a negative yield, despite investors having been distracted by a collapse in the share and bond prices of equity-linked regular Steinhoff International on the same day.
-
Investor support for leveraged loan deals where the issuer is only seeking to cut margins remains so strong that some borrowers, such as French real estate group Foncia, may do it twice this year.
-
Italian gambling company Gamenet Group priced a €72m Milan IPO this week after bookrunners slashed the price and reduced the size at the end of last week.
-
Amprion, the German electricity transmission firm, has raised €200m with an issue of Schuldscheine and Namensschuldverschreibungen (NSV) — a similar instrument that is registered and can have a maturity longer than 10 years.
-
Irish headquartered US energy technology company Johnson Controls sold the shortest corporate bond deal of the week on Tuesday, tapping into the pool of investor money looking for a safe option into the end of the year.
