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Thursday, 19 October 2017

Helene Durand' s stories

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  • Long end is the right end

    Bonds | 22 September 2017

    Duration was the order of the day in the corporate market last week as deals continued to tick over, though transaction sizes were relatively modest.

  • 'Phenomenal', 'irrational' Stada buyout bonds defy gravity

    Bonds | 22 September 2017

    Warnings that aggressive covenants would leave investors on the hook at the expense of private equity sponsors did little to derail the financing of Stada’s buyout, with a €1.075bn bond issue becoming the tightest secured and unsecured LBO ever printed in Europe.

  • Stada

    High-yield market goes mad for Stada buyout bond

    Ticker | 21 September 2017

    The bond part of a financing backing the buyout of Stada has been increased by €250m at the expense of the loan market despite warnings that it includes an aggressive covenant package.

  • Frantic new issue chase prevails in strong FIG market

    Ticker | 20 September 2017

    The hunt for new issues did not skip a beat on Wednesday, with Santander Consumer Finance and Mediobanca becoming the latest to attract chunky order books for their euro deals despite offering little in the way of concession.

  • MOVES-BAML's De Naurois takes on coverage role

    Ticker | 20 September 2017

    Adrien de Naurois, Bank of America Merrill Lynch’s head of sovereign, supranational and agency debt syndicate, is taking on additional coverage responsibilities at the US bank, according to sources familiar with the matter.

  • Austrian Flag 2.jpg

    OeKB preps return to euro benchmark market

    Ticker | 18 September 2017

    Austrian export credit agency Oesterreichische Kontrollbank has mandated banks for its first transaction in euros since 2009, a deal that will follow on the coattails of a heavily oversubscribed dual-tranche issue from its guarantor last week.

  • Vienna

    Austria 100-year blows the doors off

    Top News | 15 September 2017

    Austria made bond market history last week, bringing the first 100-year eurozone sovereign syndicated trade and pushing the boundaries of the European bond market into uncharted territory.

  • EIB goes out on a high

    Bonds | 15 September 2017

    The European Investment Bank concluded its 2017 Euro Area Reference Note (EARN) programme on a high, luring over €9.7bn of investor demand for a €3bn December 2023 trade.

  • Banco BPM reopens Italian sub market

    Bonds | 15 September 2017

    Banco BPM successfully reopened the market for Italy’s second tier banks last Thursday, pricing a €500m Tier 2, the first euro Italian subordinated debt sale since the liquidation of Veneto Banca and Banca Popolare di Vicenza.

  • Logo of the European Investment Bank

    EIB goes out on a high

    Ticker | 14 September 2017

    The European Investment Bank concluded its 2017 Euro Area Reference Note (EARN) programme on a high, luring over €9.7bn of investor demand for a €3bn December 2023 trade.