UniCredit
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Swiss steelmaker Schmolz + Bickenbach opened the euro high yield market on Monday with a sub-benchmark sized deal, extending March’s stream of opportunistic refinancing deals. -
UniCredit raised $2bn of senior debt in its first global bond offering for several years, fuelled by stronger sentiment following its €13bn rights issue.
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FIG borrowers have wasted little time in bringing opportunistic offerings in front of investors this week, using strong issuance conditions to complete a number of projects ahead of the Easter break.
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Aston Martin, the UK luxury car maker, made savings of up to 400bp on Friday as it wrapped up its latest bond refinancing bond. Investors came along for the ride but found it a bit of a squeeze.
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Two European IPOs reached conclusions on Friday, March 31. That of Ambea was heavily oversubscribed, while UniEuro's had to be shrunk and restructured to get it over the line.
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Credit Bank of Moscow reopened the new style tier two market for Russian issuers in style on Wednesday with a $600m deal that was five times subscribed.
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Saipem, the Italian oil and gas engineering group, entered the high yield bond market on Wednesday, backed by a return to profit and rising oil prices, in a deal set to attract the company’s home crowd.
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Russian Railways, a regular issuer in the bond market, has made a return to syndicated loans by signing a $420m club deal at the end of last week, according to a banker on the trade.
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Hochtief, the German construction firm, has raised €500m with a Schuldschein issue, more than triple the €150m it initially sought, as domestic and international investors welcomed a favourite issuer back to the market.
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UK luxury sports car maker Aston Martin will hit the road for a senior secured deal in sterling and dollars on Friday to repay bonds coming due next year.
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German auto parts maker Adler Pelzer Group drove into a European high yield bond market already loaded with offerings from other six borrowers on Wednesday, but it stood out as a rare chance for investors to buy a single-B rated bond.
