BBVA
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Spanish banks have taken just over four months to shoot past the supply totals they managed in the whole of last year, after yet another impressive deal was priced this week. With the creation of a new senior asset class potentially just around the corner in Spain, 2017 could turn out to be a bumper year for the nation’s financial institutions. -
BBVA said this week that it could be in a position to issue its first non-preferred senior bond by the second half of the year, as optimism following the first round of the French presidential election helped create extremely attractive issuance conditions in the FIG market.
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The European Atomic Energy Community (Euratom) has ended a six year absence from capital markets with a 10 year medium term note, which is to be the first of six.
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The palette of socially responsible investment bonds is expanding. Two borrowers made SRI debuts this week with a social inclusion bond and a sustainability bond, while a third has announced its intention to follow suit.
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Spain’s BBVA paid next to no new issue premium for €1.5bn of new funding this week, picking its moment to return to a very healthy market for floating rate notes.
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Spanish car parts supplier Grupo Antolin found strong demand for its refinancing deal on Thursday in a high yield market where new bond sale volumes have dropped to less than a third of March’s €3bn average.
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A pair of European borrowers debuted socially responsible investment bonds on Monday, raising a combined €1.2bn, with one able to tighten its price by several basis points.
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BBVA and Commonwealth Bank of Australia were both targeting the five year part of the maturity curve on Monday, tapping into good demand in the vanilla senior debt market.
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