UniCredit
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Bank Austria UniCredit (Baca) and Bawag issued tightly priced and exceptionally well subscribed covered bonds this week, reflecting the scarcity of issuance from the region and in their chosen tenors. -
Amadeus IT group, the Spanish travel technology company, and German logistics company Kion Group offered corporate bond investors the chance to pick up riskier debt on Thursday, as the demand for higher yielding securities drives large parts of the primary market.
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The Republic of Bulgaria issued a €2.5bn dual-tranche bond on Tuesday to support its expanding state budget, following a raft of its regional peers which are responding to the Covid-19 crisis with substantial deals.
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Commerzbank and Unipol Group ‘ticked all the boxes’ with their new green senior transactions on Wednesday, amassing large orders from investors.
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UniCredit sold a $1bn non-preferred senior bond in the dollar market this week, as it made further headway on its total loss-absorbing capacity (TLAC) plans for next year.
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Novartis, the Swiss pharmaceutical company, is set to join the nascent sustainability-linked bond market this week after mandating banks for a trade and investors will have another chance to pick up crossover rated debt in a deal from forklift truck maker Kion Group.
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UniCredit Bank Austria (Baca) was set to issue its fastest growing, most subscribed covered bond ever on Tuesday and Sparebank 1 Boligkreditt was posed to bring ts most subscribed deal with its most granular order book ever. Both covered bonds were priced flat or slightly inside fair value and illustrated that market conditions are at the best they've been this year.
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Munich Re and Unipol Group are lining up new green bond transactions for this week, as they look to replicate the success of similar deals and gain a ‘pricing advantage’ in the market.
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The Republic of Bulgaria has mandated banks to arrange a dual tranche bond in euros, making it the latest sovereign to add to the swelling supply from the central and eastern European (CEE) region.
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Ford, the US car maker, offered investment grade bond investors a chance to dip into high yield on Tuesday. And its rival, Nissan Motor, is lining up a seven tranche behemoth bond issue that will create a euro curve out to eight years.
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Europe’s corporate bond investors had the spectrum of credit ratings to pick from on Thursday, from A- rated Volvo Treasury down to German speculative grade fallen angel ZF Friedrichshafen.
