ABN Amro

The financial institutions bond market in euros was on hold on Tuesday, as European issuers saw no reason to rush into doing deals while global equities were selling off and interest rates were being buffeted by expectations of inflation.

The IPO of hGears, the German maker of high-precision gears for e-mobility, was covered on Monday, less than a day into book building, according to a source close to the deal.

Allied Irish Banks (AIB) sold its sophomore green bond on Monday, printing €750m of senior paper at a spread flat to fair value and close its Irish peers.

The demand for sustainability-linked bonds was made clear on Thursday, as French minerals company Imerys’s deal commanded more than double the demand of Swedish property firm Sagax’s conventional trade, despite sharing big similarities.

Europe’s high grade corporate bond investors clamoured for spread this week, with low triple-B rated companies Aker BP and Holding d’Infrastructures de Transport (HIT) finding ample demand a day after Eni had sold hybrid debt.

Euronext, the Dutch-registered, Paris-headquartered stock exchanges group, brought a €1.8bn triple tranche bond issue on Thursday. Investors showed much larger appetite for the shortest maturity as inflation fears linger.

Europe’s high grade corporate bond investors showed for the second day in a row on Wednesday how hungry they are for spread. Low triple-B rated credits Aker BP and Holding d’Infrastructures de Transport both increased their bond issues after bumper demand.

Erste Group Bank is lining up its first sustainability bond, as it looks to take advantage of a quiet period for new issuance and a recent back-up in rates.

Europe’s high grade corporate bond market is set for a glut of supply as companies appear to be loosening the capex purse strings once more. The only debate is about when it will come. With cash piles at near record levels, there is little agreement about when firms will need to fund spending with fresh debt, writes Mike Turner.

Europe’s high grade corporate bond market bankers are expecting a rebound in issuance in the second half of the year, as macro data suggests business investment will soon pick up, whittling away at cash piles.

Basic Fit, the Dutch low-cost gyms operator, has sold €204m of new shares to finance growth opportunities once its sites are permitted to reopen.

Vi Davda has been promoted to a new role of head of UK debt capital markets at ABN Amro, as the Dutch bank looks to expand its business across UK financial institutions and corporate clients.