UniCredit
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High grade companies stormed the European bond market with an array of tranches on Wednesday, and investors snapped up the trades, despite it being so late in the year. -
Immobiliare Grande Distribuzione, a crossover-rated Italian property company, brought a sub-benchmark five year bond on Wednesday and shaved 25bp off the spread during execution.
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Credito Valtellinese (Creval) found strong demand for a €300m preferred senior bond on Tuesday, allowing it to push the pricing through its guidance range.
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Financial institutions are rushing to sell new deals in the euro market, fearful that the window for issuance will close after Thanksgiving in the US next week.
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The positive market backdrop has driven smaller and less well-known bank issuers to come forward with rare new bond issues. But they are showing up just as investors pack up for the year, meaning they must work hard to lure enough demand, writes David Freitas.
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Student Hotel finds bed for sustainable loan — Italo mainlines green loans — Green bond stalwart Tennet signs — Scottish Mortgage returns to US PP — CVC-owned April preps rapid refi
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KfW’s first €STR bond hit the market on Wednesday. Although the German agency managed a tighter price than EIB’s first note in the format, it was not able to drum up the same level of demand.
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A trio of triple-B rated companies brought bond sales totalling €2.75bn on Thursday, as a primary market abuzz with official stimulus roared towards the year's close.
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Carrefour, the French supermarket group, has launched a tender offer for €2bn of bonds, hoping to buy back a maximum of €400m.
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Italo, the Italian high speed rail operator, has signed a €1.1bn green loan, in what tit says is the biggest ever product of that stripe in its home market and the largest ever in the transportation sector globally.
