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Transition finance in transition — companies face investors in flux

Demand to invest in the low carbon transition is growing fast, but strategies are very diverse
Issuance net of buy-backs is not that high, and there is no sign of any indigestion

Caffil lands social covered bond as market ‘comes off the boil’

◆ Order book smaller than issuer’s last covered in January ◆ Banker said covered bond market has reached plateau ◆

AI impact fear rocks IPO hopefuls

Questions hang over the future of software as a service firms
Issuance net of buy-backs is not that high, and there is no sign of any indigestion
Sub-sections
  • A Dkr6.4bn (€856m) block of shares in Danish renewable energy firm Ørsted reopened the EMEA ECM market on Tuesday evening and attracted huge investor demand for the stock — including from ESG investors.
  • Reden Solar, a French company that constructs and manages photovoltaic power plants, has sold a green euro private placement (PP).
  • A group of shareholders in Xinyi Solar Holdings have bagged HK$1.79bn ($230.7m) after selling a block of shares in the company, according to a source familiar with the matter.
  • The solar Investment Tax Credit is set to step down and ultimately expire in two years — an expected but still disappointing development for the solar industry. Some, however, see the expiration of the ITC as a boon for solar securitization because it will do away with a complicated feature that has been a hurdle for issuers looking to market deals.
  • Atlantica Yield, formerly the UK-based energy yieldco Abengoa Yield, has launched a debut US private placement, which is the first US PP offering in 2020 in Europe.
  • Chinese solar power operator Panda Green Energy Group has extended the deadline of a distressed exchange offer. The new note issuance will now be finalised in the same week that its $350m bond becomes due.