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CaixaBank highlights AT1 pricing possibilities

Several European financial institutions hit the screens with subordinated bonds and mandates on Monday as market conditions were described as being almost too good to be true, with CaixaBank taking euro Additional Tier 1 coupons back below 6%. 

BON ESG

REITs take centre stage

Logistics-focused real estate investment trusts were in vogue on Monday as two issuers from the sector tapped the euro primary market.

BON ESG

Orsted sets terms for US$9.46bn fundraise

Orsted set terms on Monday for its DKr60bn (US$9.46bn) rights issue with a substantial discount to the market price that has already adjusted down in response to the substantial cash call and half a dozen additional banks signing up as underwriters.

EQY

Reliance units raise record Rs210bn from securitisation

Units of Reliance Industries raised a record Rs210bn (US$2.38bn) from a securitisations backed by loans to the Indian conglomerate's telecom business, driven by strong demand from mutual funds, according to sources close to the deal.

BON SEC

ABN and UniCredit draw strong demand with tight senior prints

ABN AMRO and UniCredit set the ball rolling on the week’s senior FIG supply on Monday with trades that conceded zero new issue premiums and were more than twice subscribed.

BON ESG
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Moves – BofA succession battle hots up as co-presidents named

Bank of America has named Dean Athanasia and Jim DeMare as co-presidents of the bank – putting them in line to succeed long serving chief executive Brian Moynihan.  

P&M
UBS mulls move to US to avoid new rules – report

(Reuters) - Swiss bank UBS is considering moving to the United States in response to proposals from the Swiss government on new capital requirements, the New York Post reported at the weekend.

P&M
ANZ fined record A$240m for bond market and retail violations

Australia and New Zealand Banking Group will pay a record A$240m (US$160m) fine set by the Australian Securities and Investments Commission to settle four misconduct proceedings, including its activities in the sovereign bond market.

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Still in good order: traders shrug off rising Gilt yields

Trading conditions in UK government bond markets have remained orderly in recent weeks, bankers say, despite the country's long-term borrowing costs rising to levels last seen in the late 1990s.

BON P&M
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Third of Musk’s Tesla shares tied up in margin loans

About a third of Elon Musk’s stake in Tesla remains tied up in margin loans, regulatory filings show, underscoring how the world’s richest man continues to lean on his nearly US$250bn worth of shares in the electric carmaker as a source of cash.

P&M
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CaixaBank highlights AT1 pricing possibilities

Several European financial institutions hit the screens with subordinated bonds and mandates on Monday as market conditions were described as being almost too good to be true, with CaixaBank taking euro Additional Tier 1 coupons back below 6%. 

BON ESG
REITs take centre stage

Logistics-focused real estate investment trusts were in vogue on Monday as two issuers from the sector tapped the euro primary market.

BON ESG
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PSP builds year's biggest book in sterling debut

PSP Capital's debut sterling benchmark has received a massive response from investors. Demand for the bond reached a level otherwise unseen this year for a non-sovereign SSA in sterling, IFR data show.

BON
ABN and UniCredit draw strong demand with tight senior prints

ABN AMRO and UniCredit set the ball rolling on the week’s senior FIG supply on Monday with trades that conceded zero new issue premiums and were more than twice subscribed.

BON ESG
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Ithaca Energy to print debut euros

North Sea oil and gas operator Ithaca Energy is poised to make its debut in the euro market after announcing a deal that is due to price later this week.

BON
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Zayo reconnects for third fiber ABS deal of the year

Zayo, a fiber optics network operator, is returning to the asset-backed primary with its third securitization this year to fund its expansion as it seeks to keep pace with the industry's expected growth driven by generative artificial intelligence.

SEC
Reliance units raise record Rs210bn from securitisation

Units of Reliance Industries raised a record Rs210bn (US$2.38bn) from a securitisations backed by loans to the Indian conglomerate's telecom business, driven by strong demand from mutual funds, according to sources close to the deal.

BON SEC
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Resimac secures non-conforming demand

Regular issuer Resimac returned to the RMBS market on Thursday with the A$1bn (US$655m) no-grow, non-conforming Resimac Bastille Trust Series 2025-2NC which encountered no indigestion problems in a busy period for the asset class. 

SEC BON
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Hefty US ABS supply rides in

A huge wave of supply hit the US asset-backed primary market in the week of September 8 and was embraced by eager investors that want to get their hands on the latest offerings.

SEC
European auto ABS momentum continues

Several European auto ABS issuers returned to the market after months of relatively subdued activity largely caused by chaos around US tariffs. All were able to upsize their deals given the strength of order books.

SEC
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Germany shuns EU Green Bond Standard

Germany has rejected the “significant restrictions” of the European Union’s Green Bond Standard after its neighbour Denmark recently said it would become the bloc’s first sovereign EuGB issuer . 

ESG BON
NIB prepares to issue debut SLLB

The Nordic Investment Bank's long-awaited sustainability-linked loan financing bond is drawing closer with the publication of a framework and second-party opinion from S&P that points to a transition-oriented deal. 

ESG BON LOA
Deutsche Bank doubles down on sustainability

Deutsche Bank is holding course on its sustainability pledges and has updated its transition plan even as international banks flee the UN-sponsored Net-Zero Banking Alliance. 

ESG BON LOA
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UK MBA begins long goodbye

The UK's Local Government Association has defended a 35-year winddown of its disastrous UK Municipal Bond Agency, which closed to new business in February citing “ongoing lack of demand” after only completing two deals in more than a decade.

BON ESG P&M
Japan opens new exchange for ESG bonds

A Japanese regional securities exchange launched Japan's first ESG bond market on Wednesday, with the aim of promoting investments in ESG bonds from investors at home and abroad.

P&M BON ESG
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Permian Resources pressured as PE backers exit via block sale

Riverstone Investments and Pearl Energy cashed out a US$620m-plus stake in Permian Resources via a block sale of stock ahead of the US market open Monday that saw the energy-focused PE firms fully exit stakes inherited from a merger in 2022.

EQY
Orsted sets terms for US$9.46bn fundraise

Orsted set terms on Monday for its DKr60bn (US$9.46bn) rights issue with a substantial discount to the market price that has already adjusted down in response to the substantial cash call and half a dozen additional banks signing up as underwriters.

EQY
Klarna taps into US IPO renaissance

After a lackadaisical summer, the US IPO market is running at issuance levels not seen since 2021, highlighting a combination of pent-up supply and investor willingness to engage in new issues to close performance gaps.

EQY
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Chinese ECM is back in action

Chinese ECM sprung back to life after the summer break, with four overnight deals raising a total of US$6.4bn last week.

EQY
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Companies dust off IPO plans, as hopes grow for London listings revival

Companies have begun to dust off their previously shelved plans for London listings, with lawyers reporting an uptick in preparatory work over recent weeks, raising hopes of an end to the worst downturn in decades for the city’s IPO market.

EQY P&M
Refresco takes aim in keen market

Netherlands-based beverage maker Refresco has led the post-summer repricing wave in the European leveraged market, resurrecting a failed trade from March in transformed markets.

LOA
M&A lending surges over summer

Jumbo bridge loans and corporates adding term loans to their capital structures boosted investment-grade loan volume in July and August after a tepid first half of the year, a spike that signals renewed confidence despite ongoing uncertainty in Washington.

LOA
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Synera preps jumbo wind farm PF

Synera Renewable Energy Group is preparing to raise a jumbo loan of about NT$95bn (US$3.13bn) for the Formosa IV offshore wind project, adding to multibillion dollar borrowings for other offshore wind farms in Taiwan, including a large refinancing in the works for a project already developed for the sponsor.

LOA
Cencora benefits as banks retain quality assets

Pharmaceutical services company Cencora has amended a US$1.5bn term loan to cut pricing and shorten its maturity date, marking a rare term loan A repricing in the already tightly priced investment-grade market.

LOA
Sysco inks US$3bn RCF

Food services company Sysco signed a US$3bn five-year revolving credit facility that replaces the company’s equally sized RCF from April 2022.

LOA ESG