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GC Asia
SRI / Green Bonds
Tech boutique offers tool to spot greenwash
Investors who have been longing for the EU Taxonomy of Sustainable Economic Activities to tell them what is green are now realising that its arrival could make life tricky.
26 Feb 2020
SRI / Green Bonds
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People & Markets
Generali launches framework for green insurance-linked securities
Assicurazioni Generali, the Italian insurance company, has launched a framework to show how insurance-linked securities can be structured to contribute towards investments in green assets.
25 Feb 2020 -
Equity-Linked
Yandex offers CB buyers taste of Russian tech
Yandex, the Russian internet company, reopened the equity-linked bond primary market in EMEA after more than a month without any new issues, with a $1.25bn five year convertible bond.
25 Feb 2020 -
CEE
Russian Railways mandates for first ever Russian green Swissie
Russian Railways is embarking on a roadshow to market the first ever green Swiss franc bond from Russia, even as fears of the spread of the Covid-19 coronavirus continue to infect EM bond trading.
25 Feb 2020 -
Regulation & Clearing
Ferber lashes out at ESMA for Ophèle appointment
MEP Markus Ferber has come out swinging at the European Securities and Markets Authority for appointing chief French regulator Robert Ophèle to temporarily chair its central counterparty (CCP) supervisory committee.
24 Feb 2020
green and social bonds and loans
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Siemens Gamesa turns bilateral factoring line green
Siemens Gamesa, the Spanish wind turbine maker and servicer, has signed the first sustainability-linked factoring agreement in the country, bringing the hottest trend in lending to the usually staid world of niche trade finance.
26 Feb 2020 -
Capital markets chief leaves Eurofima
Eurofima, the Swiss-based railway financing agency, has let its head of capital markets go as part of a restructuring.
25 Feb 2020 -
Generali launches framework for green insurance-linked securities
Assicurazioni Generali, the Italian insurance company, has launched a framework to show how insurance-linked securities can be structured to contribute towards investments in green assets.
25 Feb 2020 -
Russian Railways mandates for first ever Russian green Swissie
Russian Railways is embarking on a roadshow to market the first ever green Swiss franc bond from Russia, even as fears of the spread of the Covid-19 coronavirus continue to infect EM bond trading.
25 Feb 2020 -
Park Hotel raises debut green loan
Singapore’s Park Hotel Group has sealed its maiden green loan, raising S$237m ($169m) from United Overseas Bank.
25 Feb 2020 -
Egypt to issue green bond as MENA's ESG wave builds
The Arab Republic of Egypt has hired a group of international banks to arrange its debut green bond.
24 Feb 2020 -
Suzano tempted by Enel-like structure, Mexico markets SDG bond
Brazilian pulp and paper company Suzano is working on structuring a bond that would reflect its commitment to sustainability.
20 Feb 2020
Responsible investing
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Tech boutique offers tool to spot greenwash
Investors who have been longing for the EU Taxonomy of Sustainable Economic Activities to tell them what is green are now realising that its arrival could make life tricky.
26 Feb 2020 -
Investors hope to strike oil in budding oil and gas ABS market
Oil and gas securitizations may be a win-win solution for the difficulties faced both by energy producers in search of a diversified source of funds and by investors hungry for long term, attractive returns, said speakers at SFVegas on Sunday.
24 Feb 2020 -
ESG proponents on the hunt for a common framework
A lack of data and a broad range of frameworks for identifying environmental, social, and governance (ESG) assets are significant hurdles standing in the way of ESG becoming a more robust asset class unto itself, said speakers at SFVegas 2020 on Sunday, urging advocates to harmonize their definitions and strategies for investing.
24 Feb 2020 -
Whole biz ABS riskier than oil and gas deals, Fitch says
Investors hungrily eyeing two esoteric ABS subsectors — one booming, the other nascent — may want to look take a second look, as Fitch Ratings this week warns that whole business securitizations are a riskier bet than the budding oil and gas ABS sector.
20 Feb 2020 -
Sustainability a far cry from the fusty world of US PPs
Several chances to demonstrate commitment to corporate sustainability have occurred in the US private placement market recently, and the market has fallen short in almost every case.
18 Feb 2020 -
Charter Court brings ‘help-to-buy’ UK RMBS with ESG implications
Fitch and Moody’s gave a preliminary rating of triple-A to the senior notes on CMF 2020-1, a prime sterling RMBS with 29.4% of loans in the pool coming from the UK government’s Help-to-Buy scheme.
18 Feb 2020 -
BW Energy gets shrunken IPO done in teeth of oil fears
BW Energy, the oil exploration and production company, has priced its Oslo IPO after lowering its valuation target and shrinking the deal, having encountered resistance from investors as the coronavirus outbreak in China knocked 20% off the oil price.
18 Feb 2020
The Sustainable Economy
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The end of the road for roadshows
The shock of the Covid-19 coronavirus outbreak has forced some rapid thinking among capital markets participants.
27 Feb 2020 -
Lagarde talks up Europe’s climate finance role
Christine Lagarde has praised Europe’s achievement in developing the climate finance market, which she said was now dominated by paper denominated in euros.
27 Feb 2020 -
Regulator to launch climate "stress tests" for Aussie banks
The Australian Prudential Regulation Authority (APRA) outlined plans to develop and impose "vulnerability assessments", or stress tests, to evaluate the resilience of Australian banks to the effects of climate change.
24 Feb 2020 -
Central American bank woos UK to be new member
The Central American Bank for Economic Integration is hoping to persuade the UK government to join it as a shareholder, holding out the prospect that UK companies building infrastructure in central America might be able to gain preferential funding on attractive terms now enjoyed by Korean firms.
20 Feb 2020 -
Battle over high stakes position limits coming as EC reopens commodity derivs question
A politically charged fight over position limits on commodity derivatives appears set to kick off after the European Commission opened a consultation on the second Markets in Financial Instruments Directive (MiFID II) this week.
20 Feb 2020 -
Creditors pull back from frontier markets
Frontier market bond issuance dropped in 2019, with sovereign issuance at its lowest figure since 2011, amid signs that private-sector creditors are pulling back from riskier countries.
20 Feb 2020
Comment
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The end of the road for roadshows
The shock of the Covid-19 coronavirus outbreak has forced some rapid thinking among capital markets participants.
27 Feb 2020 -
The show should still be on the road
The emerging markets bond business, like much of the rest of the primary markets, hit a stumbling block this week due to the spread of the Covid-19 coronavirus.
25 Feb 2020 -
Coronavirus no match so far for ECB in corporate bonds
The Covid-19 coronavirus outbreak has become prevalent enough in Italy to lead to a quarantine of around 10 towns.
25 Feb 2020 -
STS is burden enough without shoehorning in ESG criteria
With the environmental, social and governance revolution well under way, attention has turned to the securitization market after recent deals pushed the issue to the top of the agenda.
18 Feb 2020 -
Sustainability a far cry from the fusty world of US PPs
Several chances to demonstrate commitment to corporate sustainability have occurred in the US private placement market recently, and the market has fallen short in almost every case.
18 Feb 2020 -
Equity markets should brace for worse to come after Apple’s coronavirus warning
Apple’s announcement that it is likely to miss revenue estimates for the first quarter of 2020 should serve as a warning to equity investors that the economic effects of the coronavirus outbreak should be feared alongside any threat of it becoming a pandemic.
18 Feb 2020
People & markets
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Lagarde talks up Europe’s climate finance role
Christine Lagarde has praised Europe’s achievement in developing the climate finance market, which she said was now dominated by paper denominated in euros.
27 Feb 2020 -
Corbat’s chief of staff moves to Europe
Citi has reshuffled positions in its Europe, Middle East and Africa business, including forming a new position for crisis and climate risk and naming a new head for European businesses.
27 Feb 2020 -
Credit Suisse hires for Apac ESG research
Credit Suisse has hired a head of environmental, social and governance equity research for Asia Pacific, a newly created position at the bank.
27 Feb 2020 -
Tech boutique offers tool to spot greenwash
Investors who have been longing for the EU Taxonomy of Sustainable Economic Activities to tell them what is green are now realising that its arrival could make life tricky.
26 Feb 2020
Governance
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Corbat’s chief of staff moves to Europe
Citi has reshuffled positions in its Europe, Middle East and Africa business, including forming a new position for crisis and climate risk and naming a new head for European businesses.
27 Feb 2020 -
Yandex offers CB buyers taste of Russian tech
Yandex, the Russian internet company, reopened the equity-linked bond primary market in EMEA after more than a month without any new issues, with a $1.25bn five year convertible bond.
25 Feb 2020 -
Ferber lashes out at ESMA for Ophèle appointment
MEP Markus Ferber has come out swinging at the European Securities and Markets Authority for appointing chief French regulator Robert Ophèle to temporarily chair its central counterparty (CCP) supervisory committee.
24 Feb 2020 -
More Venezuela sanctions expected after Rosneft ban
The US Treasury slapped sanctions on a Rosneft subsidiary on Tuesday for brokering sales of Venezuelan crude oil that supported president Nicolás Maduro’s government.
19 Feb 2020
Health and biotech
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World Bank’s pandemic bond nears coronavirus wipeout
Investors looking at the World Bank’s pandemic bond are discounting the price in the expectation that its principal will be wiped out by the spread of the Covid-19 epidemic, writes Jasper Cox.
27 Feb 2020 -
Corporate bonds walloped as virus sell-off surprises
Corporate bond spreads swung wider again on Thursday, surprising some investors and bankers with the severity of the moves, after they thought investment grade credit had dodged some of the biggest hits when global securities started plunging at the start of the week.
27 Feb 2020 -
CPPIB faces down volatility
CPPIB Capital came to market for a dollar benchmark on Wednesday, after mandating the deal last Friday.
26 Feb 2020 -
Lenders hope virus won't cancel Q2 resurgence
Europe's high grade loan bankers are expecting better things from the second quarter of the year, citing the resolution of a handful of macro events.
26 Feb 2020
