The successful issuance of CPLP Shipping’s EUR 100 million corporate bond confirms the boom of the corporate bond market which in 2021 achieved strong growth and was the most fruitful year since the institution of corporate bonds began in 2016, while the positive momentum for corporate bonds continues in 2022.
Before the issuance of CPLP Shipping, in 2022 Lamda Development had issued a bond of 230 million euros, in which more than 14,000 private investors participated, which is a record for Greek data and shows that interest in this specific purchase by individuals, as corporate bond yields compete with deposit yields.
The successful issuances of corporate bonds also demonstrate the great potential of the domestic stock market and its contribution to the country’s development path.
In addition to listed companies, market players estimate that we will also see the issuance of bonds by non-listed companies, as CPLP Shipping did and in 2021 Costamare, which in this way have the opportunity to get in touch with the investment public , before proceeding to issue shares, making a capital increase.
The market started on October 6, 2016 with the Housemarket bond issue of the Fourlis group of 40 million, while in 2017 the issues of Mytileneos and OPAP of 300 million and 200 million euros stood out, respectively.
In 2018, the issue of GEK TERNA in the amount of 120 million euros stood out, in 2019, Aegean Airlines in the amount of 200 million euros, Attica Holdings in the amount of 175 million euros and Terna Energy in the amount of 150 million euros.
Since the beginning of 2020 the issuances have been continuous, with interest rates deescalating, while some levels of over-coverages have been impressive.
In the three years 2020-2022, corporate bonds were issued in the amount of approximately 2.8 billion euros.
Specifically, corporate bonds were issued by the following companies:
– GEK TERNA 500 million euros with an interest rate of 2.75% in July 2020
– Lamda Development EUR 320 million with an interest rate of 3.40% in July 2020
– OPAP EUR 200 million with an interest rate of 2.10% in October 2020
-Motor Oil 200 million euros with an interest rate of 1.90% in March
-Costamare 100 million euros with an interest rate of 2.70% in May 2021
-Prodea 300 million euros with an interest rate of 2.30% in July 2021
-CPLP 150 million euros with an interest rate of 2.65% in October 2021
-Elvalhalcor EUR 250 million with an interest rate of 2.45% in November 2021
-Noval Property 120 million euros with an interest rate of 2.65% in December 2021
-GEK TERNA 300 million euros with an interest rate of 2.30% in December 2021
– Premia AEEP 100 million euros with an interest rate of 2.80% in January 2022
-Lamda Development EUR 230 million with an interest rate of 4.70% in July 2022
Today, 20 corporate bonds with a total issue value of 3.63 billion euros are traded on the domestic corporate bond platform of the Athens Stock Exchange.
Source: Capital
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