SEB
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A weakened corporate bond market on Thursday did not dissuade Telenor, the Norwegian telecoms company, from issuing a €2.5bn triple tranche deal. Competing for investors' attention was unrated Symrise, the German flavours and fragrances group, which managed to slash its pricing by 25bp-30bp without losing investors. -
Nederlandse Waterschapsbank has inaugurated its updated social housing bond framework with a €1bn SRI issue. The new framework includes an environmental aspect alongside pre-existing social elements.
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NRW.Bank has joined the list of dollar issuers this week, as the beneficial euro/dollar swap spread for euro funders and tight spread over Treasuries for dollar names proves an attractive lure.
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Tokyo Metropolitan Government and Kommuninvest released initial price thoughts on dollar trades on Monday, as investor demand in the currency remains high despite a run of deals last week.
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Germany’s Stadtwerke München has amended its €500m revolving credit facility to add a sustainability element, as the nascent loan structure starts making further inroads with the country's borrowers.
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The US’s Genco Shipping & Trading has increased the size of its bank loan, as the global shipping industry prepares to finance sweeping mandatory changes to become more environmentally friendly.
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Dometic Group, the Swedish company that makes appliances for mobile homes, started the week by launching a €250m seven year high yield bond that was tightly priced, perhaps partly because the credit market was otherwise fairly quiet.
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Denmark’s Bunker Holding has signed a multi tranche revolving credit facility totaling $1bn, as the shipping fuel and lubrication oils company prepares for a “paradigm shift” headed for its industry.
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Finnish chemical company Kemira has signed a €400m revolving credit facility, becoming the latest firm to switch its bank debt to sustainability-linked margins.
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Issuers and syndicate desks were split over whether the African Development Bank’s inaugural Norwegian krone bond — the first ever social bond in the Norwegian market — could pave the way for further social issuance in the sector.
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German defence firm Krauss-Maffei Wegmann (KMW) has signed a €350m loan, joining Port of Rotterdam and FEV Group in the market for similar sized deals amid a wave of mid-market activity in Europe.
