Intesa Sanpaolo
-
Surprisingly buoyant market conditions mean that next week could be wide open for business instead of sinking into a post-Thanksgiving lull, said financial institutions DCM bankers. -
Merlin Properties, the Spanish real estate investment trust, launched on Wednesday a €500m no-grow 15 year benchmark bond, rated Baa2/BBB, with a positive outlook from S&P Global.
-
Intesa Sanpaolo and BNP Paribas hurried to make use of strong market conditions this week, building blowout order books for a pair of new senior deals in socially responsible formats.
-
Italian banks have made the most of improving market conditions in 2019, with the average cost of five year senior debt having fallen by 40bp in the last six months, according to Bank of Italy data.
-
Financial institutions bond bankers expect that new deal flow will come to a standstill in the primary market at the end of next week, as investors close the lid on an agreeable year for returns.
-
The positive market backdrop has driven smaller and less well-known bank issuers to come forward with rare new bond issues. But they are showing up just as investors pack up for the year, meaning they must work hard to lure enough demand, writes David Freitas.
-
-
Student Hotel finds bed for sustainable loan — Italo mainlines green loans — Green bond stalwart Tennet signs — Scottish Mortgage returns to US PP — CVC-owned April preps rapid refi
-
Italo, the Italian high speed rail operator, has signed a €1.1bn green loan, in what tit says is the biggest ever product of that stripe in its home market and the largest ever in the transportation sector globally.
-
Intesa Sanpaolo and Landesbank Hessen-Thüringen (Helaba) gave investors the chance to put money into preferred senior paper on Tuesday. Both trades attracted chunky order books and gave away a small new issue premium.
-
Rusal has signed the first internationally syndicated sustainability-linked loan from Russia. The heavily oversubscribed facility is part of a slowly growing shift towards green financing in Russia, said bankers.
-
Banco BPM extended the run of recent Italian bank bond supply this week, launching a preferred senior bond. The deal was launched at 200bp over mid-swaps and did not offer a new issue premium to investors, according to a banker on the deal.
