• HOME
Digital Weekly
Transition bond market heats up after year out in the cold

High Grade

Transition bond market heats up after year out in the cold

Sustainability-linked bonds (SLBs) have hogged much of the limelight in the socially responsible investment markets this year. But transition bonds, which had fallen out of favour for some time, have demonstrated there is clear demand for the product, following a strong deal for Snam this week and guidelines due for release in the coming days, writes Mike Turner.

  • SSAs brace for fierce funding competition

    SSA

    SSAs brace for fierce funding competition

    Competition among public sector borrowers will be more ferocious than ever when 2021 begins, due to supersized borrowing programmes created to deal with the coronavirus pandemic, the European Union’s arrival as a big issuer and a lack of decent funding windows in January, writes Burhan Khadbai.

  • Anxieties fester over long-term EM debt sustainability

    CEE

    Anxieties fester over long-term EM debt sustainability

    Emerging market borrowers seem to be enjoying unfettered access to the capital markets, but many are now questioning whether this Covid-induced debt spree can be sustained in the long run. With fiscal support packages likely to be needed in 2021, investors will be sifting through EM governments to see which will be able to borrow and which will be left behind, writes Mariam Meskin.

  

  

People & Markets

  • EU contemplates ‘nuclear option’ for recovery fund

    EU contemplates ‘nuclear option’ for recovery fund

    The European Commission is considering a way to proceed with its €750bn coronavirus recovery fund that will exclude Hungary and Poland. The two countries have stood firm in their opposition over the idea that receipt of EU funds will depend on states adhering to the rule of law.

  • Italy bests investors as Padoan rules UniCredit

    Italy bests investors as Padoan rules UniCredit

    The resignation of Jean Pierre Mustier as group CEO on Monday night has laid bare deep fissures between the senior management of UniCredit, which has been focused on serving the interests of shareholders, and members of its board, which want to reposition the bank as a servant of the Italian economy.

  • Is UniCredit a solution to Italy's problems?

    Leaders

    Is UniCredit a solution to Italy's problems?

    Jean Pierre Mustier's departure from UniCredit may help Italy in an attempt — shared by governments and supervisors around Europe — to push the banking sector to help solve economic policy problems during the pandemic.

  • EU should consider regular bond calendar

    The newest recruit to the ranks of large supranational issuers is also the bulkiest. Responding to Covid-19, the EU has created the €100bn SURE fund, active already, and a €750bn Next Gen EU programme, coming next year. Both are bond-financed, requiring a huge increase in the EU’s until now modest issuance, especially in the next two or three years.

  

Southpaw
by David Rothnie

Syndicated Loans

Emerging Markets

GlobalCapital China

Equity