All eyes in the public sector bond market are on the European Union as it prepares to bring its second Next Generation EU bond to the market next week, just a fortnight removed from its debut transaction under the NGEU programme.
Accusations of greenwashing have been infrequent in the 14 year old green bond market, which mainly sticks to uncontroversial assets, such as renewable energy and railways.
Spain raised €8bn this week with its fourth syndication of the year, demonstrating that in spite of the Next Generation EU’s €20bn debut last week, the euro market still has plenty of depth.
IDB Invest, the private sector arm of the Inter-American Development Bank, made its debut in the Australian dollar market on Wednesday, raising A$400m ($303.2m) with a social bond.
The dollar market this week was limited to just a few small trades, thanks primarily to a sudden lurch in rates provoked by last week’s Federal Open Market Committee meeting in the US.
Italy brought a rare format to market on Thursday, selling its first syndicated CCTeu floating rate note in over a decade to extend its curve in this format of issuance.
Senior funding officials at supranational borrowers said on Wednesday that while sustainability-linked bonds are more suited for companies, they were open to the idea of issuing bonds in this format but would wait to see how the market develops.
The global head of public sector origination at SEB will be moving to New York in September to lead the bank’s fixed income, currencies and commodities (FICC) business in the Americas.
Germany's public sector issuers lead from the front
At the end of June GlobalCapital and DZ Bank brought together some of Germany’s leading public sector bond issuers to discuss the impact of the coronavirus pandemic on their capital markets activities...
Go to GlobalCapital's SSA data pages for the latest information on priced deals, borrower funding progress, league tables and upcoming deals.
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GlobalCapital reveals today the winners of its Bond Awards 2021, including celebration of the achievement of top corporate banks and issuers — and Lifetime Achievement Awards for two of Europe’s most prominent corporate funding officials.
Spain raised €8bn this week with its fourth syndication of the year, demonstrating that in spite of the Next Generation EU’s €20bn debut last week, the euro market still has plenty of depth. Concerns about hedge funds placing enormous orders are starting to recede, said bankers on the deal.
Accusations of greenwashing have been infrequent in the 14 year old green bond market, which mainly sticks to uncontroversial assets, such as renewable energy and railways. The sustainability-linked bond market is only a toddler, but already a much more difficult child. No wonder: it is handling tougher material.
The blockchain firsts in capital markets are coming quickly. DZ Bank is marketing a corporate Schuldschein that will run back office functions on a blockchain for the entire duration of the trade — the first time this has been done — while Société Générale’s subsidiary Forge is working on various permutations of trades to be issued using this form of distributed ledger technology. While blockchain tech is still in its infancy, it is set to disrupt capital markets, creating winners and losers.
Sweden became the latest European sovereign to access the ultra-long end of the curve this week as it launched its first 50 year bond, opening up the long end of the krona curve for other highly rated names.
The global head of public sector origination at SEB will be moving to New York in September to lead the bank’s fixed income, currencies and commodities (FICC) business in the Americas.
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