UniCredit
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Italian insurance company UnipolSai sold an oversubscribed perpetual non-call 10 tier one deal on Wednesday at a level reflecting the new, tighter pricing of subordinated debt in the wake of the European Central Bank's easing programme, announced last Thursday.
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Two issuers from the eurozone’s periphery hit the senior market on Thursday despite a halt in the rally triggered by a rates cut from the European Central Bank last week.
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Commodity trading and mining company Glencore has signed oversubscribed revolving credit facilities totalling $15.3bn from 69 banks. -
The European leveraged loan market, usually the weaker rival of its larger US counterpart, is punching above its weight as US mutual funds have faltered in their enthusiasm for buy-out debt.
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Gates Global - Sport Group - Intralot - Homair Vacances
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Danske Bank’s first covered bond of the year offered an attractive spread relative to its Nordic peers, making it a straightforward sell for its lead managers. But even so, the final pricing level was just one third of Danske’s differential against top tier Swedish covered bonds issued a year ago.
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Deoleo, the Spanish olive oil producer, has dropped the dollar tranche of its €600m refinancing loan, which will be allocated on Monday.
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Sport Group, the German sport and leisure surfaces installation company, has signed a €180m loan.
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Turkish Halkbank printed its $500m five year bond flat to its curve on Wednesday having built a book of over $4.25bn for the deal. The bond benefitted from the low supply of Turkish bank bond paper this year and from further sovereign supply expected to be slim for the rest of the year.
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Austria took advantage of a clear week of issuance to bring an unusual dual tranche issue that included a six year floating rate note. Strong demand for the 10-year should encourage issuers looking at printing euro benchmarks in the coming weeks.
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Turkish Halkbank has released price guidance for a five year senior unsecured bond that equates to a new issue premium of 5bp-10bp, according to a lead manager on the deal.
