BBVA
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BBVA’s third additional tier one transaction is likely to demonstrate the increasing importance of "future supply overhang" for the product’s performance, said TwentyFour Asset Management on Monday. -
BBVA launched the first euro denominated AT1 transaction since February’s sell-off this week, pricing the bond through its outstanding notes’ yield to call and fuelling hopes the primary market is fully open once more.
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The European high yield bond market burst into life this week with the largest single tranche deal of the year and — more significantly, said some bankers — the first euro deal from a US issuer.
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BBVA has launched the first euro denominated AT1 bond since February’s sell-off, pricing the bond through its outstanding notes' yield to call, and fueling hopes the primary market is fully open once more.
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Telefónica hit the European bond market on Wednesday for a €2.75bn dual tranche deal that drew hefty demand, but later widened in secondary.
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Instituto de Crédito Oficial printed a no-grow €500m September 2018 social bond on Tuesday, with bankers noting that the bond’s high yields might have been just as appealing as its high morals.
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Parque Reunidos, the leisure parks operator, on Monday announced what it hopes will be the largest Spanish IPO for over a year, in a bid to reduce debt and begin to make an exit for private equity owner Arle Capital.
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Car parts distributor LKQ is set to become the first US company this year to issue a high yield bond in euros — and more US names may be on their way, bankers say.
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A boost in deal activity in March has brought Latin American year-to-date new issuance volumes back to parity with 2015 as the end of the first quarter draws near, according to Dealogic.
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Latin American borrowers are flocking to European bond markets like never before with Mexican beverage group Femsa and the Republic of Colombia the latest to join the trend this week.
