Spain
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Standard and Poor’s has upgraded its ratings for covered bonds issued by Kutxabank, as the Spanish lender looks ahead to a series of redemptions over the course of the next year. -
Acciona nabs €155m from green Schuldschein - Places for People seals €150m private placement - Germany’s Badenova sells Schuldschein - Pershing Square nabs $400m in bond private placement - Claranova debuts in euro PP market - Pension Insurance Corp puts £40m into Scottish housing association - Oman's Octal raises $625m for expansion
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Acciona, the Spanish infrastructure and renewable energy company, appealed to investors with its green, triple tranche Schuldschein offering, which closed last week at €155m.
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Banco de Sabadell launched a senior preferred bond on Wednesday, just as it prepares to enter earnings blackout. The Spanish bank was able take out two thirds of its €1.5bn funding target for the format this year.
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Santander set a new milestone in the covered bond market on Wednesday with its €1.5bn 10 year, which was one of the most oversubscribed deals of this size and tenor in years.
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Bankia returned to the primary market for a senior preferred bond on Tuesday, after launching a senior non-preferred bond just two weeks ago. The deal proved popular among investors, who placed orders of almost three times as much as the final deal size of €750m.
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Voltalia, the French renewable power producer, launched a €376m rights issue on Monday to finance an increase in capacity, and won a new investor — the European Bank for Reconstruction and Development. This is believed to be the first time the EBRD has bought a public equity in western Europe.
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Cellnex Telecom, the highly acquisitive Spanish wireless telecommunications company, has issued a €850m convertible bond due in July 2028 to fund its €11bn pipeline of investment opportunities in the European telecom towers market.
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Santander Consumer Finance breezed through the market with a new five year senior bond on Wednesday, as FIG bankers predicted that there would be a pause for breath in the primary market after a frantic few weeks for new issuance.
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Bankia on Tuesday decided to sell its first senior non-preferred bond after the whole market rallied about 5bp as a result of a speech from Mario Draghi, president of the European Central Bank, on Monday. The issuance attracted a hefty book of €3.7bn, more than seven times its pre-determined size of €500m.
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A trio of Spanish banks hit the euro market this week, led by a popular offering of non-preferred senior bonds from CaixaBank.
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