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Grünenthal, the German opioid maker, has signed a €400m revolving credit facility, less than a month after making its postponed debut in the high yield bond market. -
Traxys, the Luxembourg-headquartered commodity trader, has signed a $1.33bn-equivalent revolving credit facility, adding lenders to its already hefty bank syndicate.
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A trio of senior borrowers paid minimal new issue premiums in euros this week as Swedbank and AIB Group tapped a sweet spot of demand for bail-inable debt, while Macquarie got attractive pricing compared to its dollar curve.
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Europe’s corporate bond market continued to pump out deals this week, despite the equities market licking its wounds after inflation fears turned stock prices into a sea of red.
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Sucafina, a Swiss coffee company, and Suelzle Holding, a German steelmaker, have signed sustainability-linked loans, and bankers say there are more from the region coming to fruition.
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Sucafina, a Swiss coffee company, has signed a $500m sustainability-linked borrowing base facility, as a small wave of deals from the German speaking region come to fruition.
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Macquarie shed over a third of its order book on Wednesday as it priced its third euro deal in 18 months at what was deemed a “very tight” level. It was joined in the senior market by Swedbank, which was issuing its first callable non-preferred bond.
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Europe’s high grade corporate bond market ignored a deeply red day in equity markets on Tuesday, and Volkswagen Leasing and Eurofins Scientific got a decent run at printing new debt.
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Macquarie is set to extend its euro curve this week, after mandating banks for its third sale of group level debt in the currency in the last 18 months.
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The spread benefit of ESG-linked debt was on clear display in Europe’s corporate bond market this week. For the second time in days, investors were offered two similar transactions and paid significantly more for the ESG option, in this case a green bond from Red Eléctrica.
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Erste Group Bank found success when it paired a sustainable label with the senior preferred format on Friday, attracting a high quality granular order book despite pricing several basis points through fair value.
