Latest articles from Issuers

Philipp Waldstein

UniCredit beats Italy’s sovereign blues

October 1, 2012

A covered bond placed with a yield well inside the Italian government provides a reassuring signal that the country’s largest bank by assets, UniCredit, has a viable funding plan to ride out the sovereign crisis.

Rapid response puts Credit Suisse capital bank on track TEASER

Rapid response puts Credit Suisse capital bank on track

September 3, 2012

Switzerland’s second largest bank had to react quickly with an innovative convertible offering after the country’s central bank demanded an increase in its capital base.

TEASER-BG hybrid bond

BG hybrid bond has global appeal

August 1, 2012

Oil and gas multinational BG Group has a strong credit record, but it was still a brave decision to launch an unusual structure just after the Greek elections with an extra tranche added to target Asian private bank clients.


Philip Morris breaks a Eurobond record

July 2, 2012

Even with good ratings and a global brand, US tobacco company Philip Morris was taking a risk issuing in the unpredictable Euromarket. It paid off, however, when the company recorded the lowest coupon for a corporate deal.

Martin Nijboer

ING opens the door for Japan's Pro-Bond market

June 1, 2012

The Japanese Pro-Bond market, which was created in 2011, allows foreign issuers an easier route to Japan’s ample liquidity than through the traditional Samurai market. However, it needed a ground-breaking deal, and Dutch bank ING obliged.

Convertible bond feeds Dialog's growth story

May 1, 2012

A convertible bond enabled technology company Dialog to raise funds fast, while significantly broadening its investor base and keeping dilution within fixed limits.

Czech deal finds perfect balance

Czech sovereign deal shows appetite for peripheral Europe

April 2, 2012

The Czech Republic has proved that the Euromarket is not exclusive to core eurozone sovereigns by pricing the tightest deal in central and eastern Europe in February 2012.

Thirst for Foster's boosts SABMiller deal

March 1, 2012

SABMiller's need to finance its $12.3bn takeover of Foster's saw it issue a $7bn multi-tranche Yankee. The result defied even the most optimistic of expectations, with high demand seeing the brewer come close to refinancing its bridging loan of $8bn in one fell swoop.

Société Générale makes strong covered bond return

February 1, 2012

Société Générale was a frequent issuer in the bond market until the conditions in the latter half of 2011 brought the Eurobond market to a standstill. So when investor interest was revived in the opening days of 2012, the French bank was quick to take the opportunity to tap the market, issuing a €1.5bn 10-year covered bond, which attracted investors from across Europe.


Eiffarie motors on with APRR bond issue

January 3, 2012

When the Macquarie and Eiffage consortium, Eiffarie, won a controlling stake in APRR, the highly leveraged French motorway company, Eiffarie knew it needed to gain quick access to the market to refinance APRR's loans. Eiffarie's team established a €6bn euro medium term note programme, and then in mid-November 2011 decided to return to the market with a €500m four-year deal to help repay its outstanding acquisition loan. The result defied even the most optimistic expectations.

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