UniCredit
-
Novolipetsk Steel (NLMK)’s $500m seven year bond drew a book in excess of $1.5bn on Wednesday morning allowing leads to tighten initial guidance, which they said offered a 30bp new issue concession. -
Thales, the French defence company, slipped a €500m no-grow three year issue into the bond market on Tuesday, alongside Vodafone's much bigger deal, and after another three-trancher from Becton Dickinson on Monday. All three deals' short dated tranches were priced tightly.
-
UniCredit's London-based head of corporate loan syndication for central and eastern Europe, Russia and the CIS has retired.
-
Russian Rail’s debut green Eurobond last week met with strong demand, but some investors had reservations about buying green bonds from a company owned by the Russian state and used to transport fossil fuels. Antonio Keglevich, UniCredit’s head of sustainability bond origination, responded to the criticism.
-
Thursday’s corporate bond new issue action in Europe confirmed the picture presented on Wednesday: that investors were determined not to let macroeconomic issues bother them, and were piling into new issues. The day was less blemished than the previous one had been by volatility, enabling issuers to get some very tight spreads.
-
-
Russian Railways launched the first international green bond from its home country on Thursday, a €500m eight year bond. While many emerging market investors were keen to look at the paper, despite the US considering a new round of Russian sanctions, several green investors disliked the company’s ESG enough to not participate.
-
KfW and the World Bank brought well received socially responsible bonds to the market this week that set new landmarks for the public sector borrowers.
-
Thomas Cook bonds traded down more than 12 points on Thursday in heavy volume, as the UK holidays group announced a new first-ranking loan for the winter season, a big goodwill writedown that took its pre-tax loss to £1.4bn, and a big drawdown on its revolving credit facility.
-
Germany’s Stadtwerke München has amended its €500m revolving credit facility to add a sustainability element, as the nascent loan structure starts making further inroads with the country's borrowers.
-
France’s Eiffage has doubled the size of its revolving credit line to €2bn, with the civil engineering construction company becoming the latest name to add social and environmental language to its loan documentation.
-
Books for Russian Railways’ eight year euro green bond had breached the €1.4bn mark by lunchtime on Wednesday, allowing leads to tighten pricing. A banker away from the note said the levels offered looked fair.
