UniCredit
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Lloyds opened the senior FIG market for the week on Monday, drawing a diminished order book for a five year compared to its most recent senior prints.
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UniCredit has asked holders of nearly €2.3bn of subordinated lower tier two notes to tender their bonds for repurchase at prices well above par. -
Dufry, the Swiss travel retail operator, has launched a term loan of up to €800m to finance its acquisition of World Duty Free. It will mainly be syndicated to relationship banks.
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The senior unsecured market saw a spark of life despite the holiday shortened week, with €4.66bn equivalent getting away in two business days.
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Berlin-Hannoversche Hypothekenbank (BHH) mandated leads to market the first green pfandbrief, or Grüner Pfandbrief. More green covered bonds and RMBS are on the way.
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Dufry, the Swiss travel retail operator, has launched a term loan of up to €800m to finance its acquisition of World Duty Free. It will mainly be syndicated to relationship banks.
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The spark of life was seen in the senior unsecured market on Wednesday, with Credit Suisse’s senior unsecured bond, issued from its holding company, quickly achieving blowout status during the bookbuilding process.
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Volkswagen issued €500m of 2.5 year floating rate notes and €750m of 6.5 year fixed rate bonds into an improving corporate bond market on Tuesday.
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A pipeline of financial institution deals is assembling following the Easter break, with ING hitting the road for its additional tier one deal in three continents and Achmea announcing a senior unsecured transaction.
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Dufry, the Swiss travel retail operator, is assessing how it will use the capital markets to finance its €3.6bn cash acquisition of World Duty Free, announced on Monday.
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DVB Bank fell foul of Germany’s recent draft legislation on the status of senior debt on Tuesday, with a new issue failing to draw interest despite a juicy new issue premium.
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Idea Bank, the Polish challenger bank, on Wednesday set the price of its Warsaw IPO at Z24, the bottom of the range, and reduced its size, because investor demand failed to meet expectations.
