Rabobank
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The supply of hybrid bonds continued this week, with an additional feature — both hybrids sold this week were certified as green bonds. -
Danish power company Ørsted has wasted no time in issuing under its new name after leaving the Dong Energy brand behind earlier in November. On Thursday the issuer sold a green hybrid and a green senior bond, as well as announcing a tender offer for its shorter dated bonds.
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J Sainsbury, the UK supermarket chain, has refinanced a revolving credit facility with a new, larger revolver amid a far rosier picture for the company than when the last deal was signed.
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If the only benchmark euro deal on Thursday had been true to its roots, it would have built a waiting list rather than an order book. But demand still far outstripped supply when Italian luxury sports car manufacturer Ferrari sold its second corporate bond issue.
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Turkish biscuit maker Ülker has launched its second syndicated loan of the year for $350m, having been the first Turkish company to come to the market this year, in April.
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A pair of Dutch public sector borrowers are set to come to market with socially responsible investment bonds. The deals form the first wave of an approaching flood of SSA SRI borrowing.
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A group of four lenders has joined a $300m loan for China Modern Dairy during general syndication. The newcomers were not scaled back from their initial commitments.
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Buoyed by Wind Tre’s landmark bond deal on Tuesday, European high yield participants say the market has shown there is demand for more jumbo deals — like Refresco’s €2.4bn buyout debt.
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Two more public sector borrowers are set to add to the flurry of socially responsible investments dominating the upcoming SSA pipeline late in the year.
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The former head of treasury at Rabobank London is set to retire at the end of the year.
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Dutch grid operator Stedin, formerly part of Eneco, was one of several issuers that met with investors before announcing deals this week. It had been discussing a sub-benchmark three year to five year floating rate note and a benchmark eight year fixed rate note, for what was essentially its bond market debut.
