Halister News

(Bloomberg) -- At least EU750m will price in Europe’s syndicated primary market as a lone deal from Schneider Electric closes out the busiest week in over a month.

• Schneider’s deal will lift weekly non-financial high-grade issuance to at least EU6.2b, the most since EU8.94b priced in the week ended May 20, Bloomberg data show
• Texas-based Celanese is poised to follow in the footsteps of U.S. corporates GM Financial and Coca-Cola with a planned EUR issue

Weekly issuance

• Corporates: At least EU8.91b
• FIG: EU8.14b
• SSA: EU4.72b

Corporate

• Schneider Electric (A3/A-) selling expected minimum EU750m 8Y at MS +27, inside IPT +40 area

Also, DBJ plans USD or EUR benchmark 3Y-7Y sustainability bond

• Banks’ AT1s are ’attractive alternative’ to stock: DB
• Go-Ahead gets bridge loan ahead of GBP200m bond maturity
• France plans to first green sovereign bond from 2017
• Covered bond sales may pick up as pipeline builds
• Europe debt tenders: Heta, KPN, R&R Ice Cream, Slovenia
• New issue review: Bureau Veritas tightens, Bank AT1s widen

• iTraxx 5Y levels
  • Europe -0.04 at 68.82
  • X-over +0.12 at 313.00
  • Senior Fin -1.04 at 88.53

• European Govt bond markets
  • Germany 10Y yield unchanged at -0.06%; Bund future -1 tick at 167.37
  • Italy/Germany 10Y spread -0.94bps to 122.95
  • Spain/Germany 10Y spread -0.10bps to 112.13

• Some information from people familiar with the matter, who aren’t authorized to speak publicly and asked not to be identified