ABN Amro
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NatWest expanded its environmental, social and governance (ESG) offering with its debut social housing bond this week, the first from a UK financial issuer, landing the €1bn deal well through fair value. -
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NatWest Group sold the first social housing bond from a UK financial issuer on Tuesday, attracting a highly granular peak order book of over €4.5bn. Investors have latched onto environment, social and governance (ESG) linked bank supply over the past few weeks, with two more labelled deals set to follow in the coming days.
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The financial institutions bond market had its Roger Bannister moment this week, as Deutsche Kreditbank broke the zero yield barrier for the first time. Now that a German borrower has lifted the negative yield taboo, bankers expect even deeper yielding deals could follow.
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Landsbankinn sold its first green bond on Thursday, a €300m senior deal, becoming the first Icelandic financial issuer to print debt in the format.
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Iceland’s Landsbankinn is set to sell its inaugural green bond, having mandated a quartet of banks to begin investor calls on Tuesday ahead of a potential senior issue.
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Deutsche Kreditbank (DKB) has broken the zero yield barrier with its latest deal, a €500m five year green senior preferred bond issued on Monday.
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ESG Core Investments has become the first European special purpose acquisition company to go public in 2021.
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SpareBank 1 SMN’s second green bond, priced on Thursday, is set to spark a flurry of similar green deals as issuers try and take advantage of the demand on offer for labelled debt — even at near-term tights.
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Norway’s Sparebank 1 SMN is set to return with its second green bond in the coming days, becoming the third Nordic issuer to tap the public market this year.
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CaixaBank and BayernLB were able to sail through fair value with green non-preferred senior deals this week, bucking a trend for rising new issue premiums in 2021. Bankers say a lack of supply is finally helping borrowers to exert more power over their pricing.
