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  • Asset owners to attempt daring, immediate emission cuts

    Asset owners to attempt daring, immediate emission cuts

    One of the boldest initiatives to green the financial system is getting under way this year, as the members of the Net Zero Asset Owner Alliance begin a drive to reduce the greenhouse gas emissions of entities they invest in by between 16% and 29% in the next five years.

  • Trafigura causes a stir with debut Schuldschein

    Trafigura causes a stir with debut Schuldschein

    One of the world’s largest commodity traders, Trafigura, has launched a Schuldschein which, due to its credit profile and intended yield, is a clear outlier. While some see the borrower as too risky for this market, others see it as a sign of the Schuldschein's growing ambition.

  • Corporate social bonds to take off, in varied formats

    Corporate social bonds to take off, in varied formats

    Market participants believe 2021 could be the year when social bonds become established as a more thriving and coherent market, after the breakthrough in volume during 2020, when issuance was swelled by the Covid-19 pandemic.

  • Hamburg Airport fails to land Schuldschein

    Hamburg Airport fails to land Schuldschein

    Hamburg Airport has pulled a Schuldschein transaction with an initial target of €100m, according to several market sources, due to a lack of interest from investors.

  • Everbright Water seals Rmb1bn Panda

    Everbright Water seals Rmb1bn Panda

    Frequent Panda bond issuer China Everbright Water priced a three year deal on Thursday, meeting its maximum size target of Rmb1bn ($155m).

  • VW makes swift dim sum comeback

    VW makes swift dim sum comeback

    German automaker Volkswagen sold a Rmb500m ($77m) offshore renminbi (CNH) bond on Thursday, just one-and-a-half months after its last outing in the currency.

  • US bond pace cools, but not fazed by politics

    The dollar corporate bond market has a more subdued feel this week, after its stellar start to the year, as US issuers are moving into earnings blackouts. But even as politics took centre stage as Congress moved to impeach President Donald Trump for the second time, ahead of Joe Biden’s inauguration on January 20, corporate borrowers quietly churned out deals.

  • People news in brief

    People news in brief

    Natixis promotes DCM bankers — Powell quits IFAD job — NatWest Markets makes Peberdy, Donaldson and Manwaring's positions permanent

Corporate Bonds News Archive

  • TIM and Autostrade slip in before political fears hit

    TIM and Autostrade slip in before political fears hit

    TIM, formerly Telecom Italia, got almost €4bn of demand for its debut sustainability bond on Monday, a €1bn eight year. The company put its sustainable financing framework in place last year, an umbrella document allowing it to raise green, social or sustainable finance in bond or loan format.

  • Deutsche Bahn steams into Swissies

    Deutsche Bahn steams into Swissies

    After a near two year absence, Deutsche Bahn pulled into the Swiss franc market to issue 15 year debt with no new issue premium this week, landing inside its own euro curve.

  • Politics and Covid fail to dent UK fee pool optimism

    Politics and Covid fail to dent UK fee pool optimism

    Bankers are betting on a strong year for the UK — Europe’s biggest fee pool — but the overlapping concerns of Brexit, Covid-19 and regulation make for an uncertain outlook, writes David Rothnie.

  • Banks unveil bond leg of Verisure’s €1.6bn divi package

    Banks unveil bond leg of Verisure’s €1.6bn divi package

    Banks launched the bond leg of a combined €5bn refinancing for alarm company Verisure, which will raise cash for a €1.6bn dividend to shareholder Hellman & Friedman. This payment follows the transfer of the company between two H&F funds at a €14bn valuation.

  • Europcar CDS worthless as auction misfires

    Europcar CDS worthless as auction misfires

    Some €700m of CDS contracts referencing Europcar’s debt have been rendered worthless thanks to a technical squeeze in the CDS auction on Wednesday, in a blow for investors who thought they’d hedged their exposure to the troubled car rental firm. The controversial result threatens to reignite debates about whether the CDS market is fit for purpose, ahead of an expected wave of restructurings in the year to come.

  • Passive investors join green debt caravan

    Passive investors join green debt caravan

    Passive investors are expected to become a bigger force in environmental, social and governance debt investing this year, as index providers and asset managers expand the range of products that apply ESG criteria to bonds.

  • Tower Bersama uses upgrade to reel in buyers

    Tower Bersama uses upgrade to reel in buyers

    Indonesia's Tower Bersama Infrastructure used its recent rating upgrade to entice investors to its $300m bond on Wednesday. Price discovery was not easy but the telecommunication tower provider’s improving business profile appealed to the market.

  • Singapore Airlines swoops into dollar market

    Singapore Airlines swoops into dollar market

    Singapore Airlines made its debut in the dollar bond market on Wednesday, raising funds for new aircraft purchase as the travel industry prepares for a rebound in the near future.

  • SK Hynix dollar bonds spark investor rush

    SK Hynix dollar bonds spark investor rush

    SK Hynix was overwhelmed with investor demand for its triple-tranche dollar deal on Wednesday. It raised $2.5bn, but non-stop demand drove the bonds nearly 20bp tighter in the secondary market on Thursday.

  • Motability gets social bonds humming

    Motability gets social bonds humming

    Motability Operations, the UK non-profit company that leases cars and other vehicles to disabled people, won strong demand for its inaugural social bond on Wednesday, lending weight to the argument that the product will become a more prominent part of the capital markets this year.

  • IG corporate issuance ramps up

    IG corporate issuance ramps up

    The high grade corporate bond market was again packed with deals on Wednesday, with syndicate bankers expecting no let-up in activity and the week to end on a bang.

  • Winners and losers in Abertis and Wintershall hybrids

    Winners and losers in Abertis and Wintershall hybrids

    The prickly start to the year continued in Europe’s corporate bond market on Wednesday, as hybrid issues for Spanish toll road firm Abertis Infraestructuras and German oil and gas firm Wintershall Dea received opposite reactions from investors.

  • Together prints first sterling HY of 2021

    Together prints first sterling HY of 2021

    Together Money launched a £450m secured bond on Wednesday, the first sterling issue in the high yield market this year. The specialist mortgage lender was refinancing a bond due in 2024 and paying down some of the drawings under its Charles Street conduit securitization.

  • Arbour joins ICG from Palamon Capital

    Arbour joins ICG from Palamon Capital

    Intermediate Capital Group, the UK alternative asset manager, has hired Philippe Arbour from Palamon Capital Partner to help further develop its Senior Debt Partners strategy.

  • City waits for divergence, or maybe equivalence

    City waits for divergence, or maybe equivalence

    Anyone who thought the culmination of a trade deal between the EU and UK would provide a shining ray of clarity for financial services as to the level of market access between the two has been proved wrong. Little progress on regulatory equivalence decisions has been made, and while this points the way towards divergence, it is still unclear how exactly the UK would go about this.

  • Investor activism: three kinds of impact

    Investor activism: three kinds of impact

    Big firms like HSBC, BlackRock and JP Morgan are always being criticised for environmental, social and governance failings. The remedy lies in their hands.

  • Brazil’s indigenous people to Fink: stop financing Amazon destruction

    Brazil’s indigenous people to Fink: stop financing Amazon destruction

    The Association of Brazil’s Indigenous Peoples has written an open letter to BlackRock’s CEO Larry Fink, who is expected to publish his annual letter to stakeholders this week. Apib wants BlackRock to end what it calls its “complicity” in the destruction of the Amazon rainforest, and to consult indigenous people as it finalises its new policy on biodiversity and deforestation.

  • Autostrade follows TIM’s break through fair value

    Autostrade follows TIM’s break through fair value

    Autostrade per l’Italia, the Italian motorway group, is marketing a nine year unsecured bond through Morgan Stanley, capitalising on the strong demand demonstrated by TIM’s eight year issue on Monday, which came through fair value on a €3.9bn book.

  • Debt woes continue at Yongcheng Coal

    Debt woes continue at Yongcheng Coal

    Yongcheng Coal and Electricity Group’s debt woes have continued into the New Year. The company has warned about a missed payment on yet another domestic bond, and more institutions involved in its bond issuance have been criticised by a Chinese regulator.

Corporate Bonds News Archive

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