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Latest articles from Issuers

Issuer strategy: Greece's dark cloud gets a silver lining

November 27, 2009

Although Greece currently has the lowest sovereign rating in the eurozone and the highest budget deficit ratio, its membership was enough to reassure investors that its 15-year issue in November was a safe bet. Writer Edward Russell-Walling

Issuer strategy: Gazprom ignites demand

October 28, 2009

In demand: Gazprom's headquarters in Moscow

Gazprom, one of the world's largest energy companies, has responded to its downgraded ratings with an ambitious issue of commercial paper in western Europe. The surprising outcome may have implications for years to come. Writer Edward Russell-Walling

When breaking the rules pays off

September 2, 2009

Jean-Baptiste Pons, EADS head of corporate finance and treasury

It is unusual to issue bonds in August, when many investors are on holiday. However, when European aerospace corporation EADS issued paper worth €1bn last month, common logic was defied in style. Writer Edward Russell-Walling

A roller-coaster ride to making history

August 4, 2009

On a high: Enel chief risk officer Claudio Machetti

The past 24 months have seen Italian energy provider Enel acquire Spanish counterpart Endesa, face threats of a credit downgrade from Standard & Poor's, and launch a successful €8bn rights issue, the largest ever by an Italian company. Writer Edward Russell-Walling

Cable giant pulls in a big audience

July 7, 2009

The UK company formed from NTL, Telewest and Virgin has been busy in the corporate bond markets.

A warm reception for a rare foray

June 4, 2009

As a rare entrant to the senior markets, with a robust AA rating in its favour, Nordea's inaugural fixed-rate senior issue was a covetable success. Writer Edward Russell-Walling

A long-term win against the odds KfW

April 7, 2009

In the current financial climate, five-year papers are considered a no-go area for US bond investors. This makes the $4m, five-year issue pulled off by Germany's Kreditanstalt für Wiederaufbau last month all the more remarkable. Writer Edward Russell-Walling

Dutch bond goes down a storm

March 10, 2009

The Dutch State Treasury Agency triumphed when it brought its 10-year bond to market with a coupon of 4%: the book closed within just four hours with most of the allocation going to real money accounts of international investors. Writer Edward Russell-Walling.

Well prepared for hard times

February 2, 2009

BNP Paribas’ €1.5bn, five-year covered bond has given the market a welcome fillip, but was only made possible thanks to the bank’s five-year strategy ­of diversifying its funding as broadly as possible.

A hare and tortoise story

December 1, 2008

When RZB announced its rights issue in October it was not in response to market pressure, but the final step of a three-year programme to build capital in line with the assets and liabilities of the growing bank. Writer Edward Russell-Walling.

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