Rabobank

Paccar Financial has become the latest in a string of US issuers that have tapped the euro market over the past two weeks. The financing arm of the US maker of trucks and trailers has raised €300m via the sale of new 0.125% notes due in March 2022.

The Netherlands' Sif Holding, which makes foundations for offshore platforms, has signed a €350m syndicated bank facility, adding green language to its loan documentation.

FIG bond market participants were speaking in superlatives as new bonds flew off the shelves this week. But some DCM officials are advising their clients not to count on conditions remaining evergreen through the rest of 2019, encouraging them to put long-held deal plans into action.

BBVA and Rabobank were both selling non-preferred senior bonds in euros on Wednesday, with investors showing a real thirst for new supply after a quiet start to the year.

Sanoma, the Finnish learning and media company, has signed €550m of bank funding, some of it earmarked to fund its acquisition of Iddink, the Dutch educational platform and service provider.

Ireland’s Greencore has signed what it says is the country’s first corporate sustainable revolving credit facility, as other companies that have shifted their bank funding to green start to see tangible financial benefits.

Karel Naphausen, formerly head of the capital markets and treasury team in Rabobank’s legal department, is leaving the sector in order to focus on being a DJ and producing house music.

Investors are returning to the covered bond, sovereign and supranational agency (SSA) markets in their droves. Despite exceptionally heavy issuance, the startling breadth and depth of demand seen in many deals this week caught market participants off guard — not least the investors themselves. Bill Thornhill reports.

Rabobank has issued the largest covered bond of the year, drawing the biggest and most granular order book for any covered bond in over five years in the process. The stellar reception illustrated the issuer’s broad reach and confirmed that the full gamut of covered bond buyers are now back.

The corporate bond market saw its second day of issuance in the new year on Monday when French multi-utility Veolia and Belgian electricity grid operator Elia sold new deals.

Mercuria Energy Group bagged a bigger-than-expected $1.35bn from its latest annual revolver in Asia, after 36 banks joined the deal.

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