Crédit Agricole
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Europe’s high grade corporate market this week saw one of its busiest days of the year, with a touch over €4.5bn printed from eight tranches on Wednesday, and investors lapped up most of the deals with ease. -
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HICL Infrastructure and JLEN Environmental Assets, two London-listed infrastructure funds, this week signed ESG-linked loans that use Sonia instead of Libor. But loans bankers are still worried about the large number of deals that have not moved away from Libor, which falls out of use on December 31.
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Crédit Agricole issued a callable Samurai bond this week that will reset to a spread over the local government bond curve, as the yen market transitions away from Libor ahead of its cessation later this year.
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French banks and foreign rivals are slugging it out in France’s corporate finance boom, where proximity to the government is an advantage, writes David Rothnie.
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Europe’s high grade corporate bond market had a distinctly Spanish flavour on Tuesday as Cellnex and Merlin Properties issued. Some analysts predict that the healthy earnings season might mean a 15% rise in bond issuance from the European market.
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China’s state-owned Zijin Mining Co is once again attempting to boost its relationship with international banks with a new $500m loan in syndication.
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HICL Infrastructure, a London-listed infrastructure investment company, has refinanced its £400m revolving credit facility, with the company shifting the benchmark to risk-free rates and adding five sustainability metrics.
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A trio of firms slipped into the market to place senior paper this week, and with spreads threatening to creep wider, bankers were keen to see lenders make use of the windows available.
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Europe’s high grade corporate bond issuers had a tough week in the primary market after inflation fears sent investors fleeing risk.
