BBVA
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Instituto de Crédito Oficial brought some rare short dated euro paper this week and was able to rely on heavy support outside the bank community — despite some people on and off the deal expecting banks to buy the deal in bulk. -
A flurry of activity in the market for socially responsible investments shows no sign of letting up, with two borrowers set to make their debut next week and two more waiting in the wings.
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The Autonomous Community of Madrid has announced that it will sell its first ever sustainability bond, joining the flock of borrowers landing in the socially responsible investment (SRI) market as the first quarter of 2017 draws to a close.
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Instituto de Crédito Oficial brought some rare short dated euro paper to the market on Monday, as it raised €500m with a long three year deal that drew heavy interest from investors outside Spain.
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Another day, another €1.5bn of high yield bond offerings was what Tuesday’s deals from Aramark, Anglo American and Arrow meant for a European market awash with double-B rated paper. But too much of a good thing is putting off some traditional high yield buyers.
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Shares in Prosegur Cash, the Spanish cash handling company, closed 3.75% higher in Madrid after it made its stockmarket debut on Friday, having priced its IPO at the top of its revised price range on Thursday.
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Two more IPOs of significant size were announced this week in Western Europe, and with four weeks to go until the start of the Easter holidays, they are likely to be the last of this IPO season to be launched.
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Gestamp Automoción, the Spanish car parts maker, has begun investor education for what is likely to be the largest European IPO of the year so far, after its Ebitda grew by 10.6% in 2016.
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Kuwait National Petroleum (KNP) is in talks with 10 banks over a loan to fund its expansion plans.
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US pharma research firm Quintiles IMS Holdings printed on Thursday a new €1.4bn high yield bond, proving that European high yield investors are embracing the train of US issuers printing in euros.
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Spain rode out another volatile day in eurozone government bonds to finish up with a healthy €5bn of 15 year paper from an order book nearly treble that size.
