EUROFIMA resumes activity in the Capital Markets with EUR, USD and AUD Bond issues in 4Q 2018
EUROFIMA’s first EUR denominated Green Bond offering:
EUROFIMA made its successful debut in the Green Bond debt market with a new issue of EUR 500 million 5-year. This Green Bond pays a fixed coupon of 0.25% annually. The transaction was announced on Monday December 3 with Initial Price Thoughts (IPTs) at swap + 6 bps area and was priced same day at swap + 4 bps, following strong investor support. Fund managers/Pension Funds/Insurance took up the bulk of the issue with 61% showing strong Green investor support, followed by Central Banks and Official Institutions 26%, and Banks/Treasury with 11%. The proceeds are used to finance Green Assets as per use of Proceeds defined in the Green Bond Framework.
ABN AMRO, Barclays, Deutsche Bank and Société Générale acted as joint lead managers of the bond.
EUROFIMA’s first Kangaroo issue:
On November 14th EUROFIMA priced a new Kangaroo bond, extending its curve to May 2029. The size of this initial tranche is AUD 50 million and carries a fixed semi-annual coupon of 3.35%. The investor distribution reflected the specific interest of insurance companies out of Japan.
Deutsche Bank and Daiwa were the joint lead managers of the transaction.
EUROFIMA’s first syndicated USD FRN bond offering:
On November 6th EUROFIMA successfully issued a new USD 500 million 3-year Floating Rate Note. The transaction was priced at 3M Libor +9 bps and was well supported by investors.
Central Banks and Official Institutions underpinned the issue, representing 62% of the allocation, whilst Fund Managers took 15% and Banks the remaining 23% of the book. Geographically, Europe took the bulk of the allocation with 83%, whilst the Americas represented 17%.
Lead Managers of the transaction were Barclays, BMO, Daiwa Capital Markets, Credit Agricole and HSBC.