ABN Amro

Banks and insurance companies are finally straining to turn capital markets greener. With many having realised there are savings to be had in issuing green senior bonds, the idea of them embracing sustainable capital instruments seems to be just around the corner. David Freitas reports

Banks are pushing out the last of this year’s equity block trades and there could even be room for more supply next week, if the UK general election delivers a market friendly result.

Dongying Fangyuan Nonferrous Metals and Dongying Lufang Metals Material have stopped the syndication of a $300m loan.

Dongying Fangyuan Nonferrous Metals and Dongying Lufang Metals Material have returned to the offshore market for a new $300m loan.

Utmost International, the life assurance group which mandated leads to run investor meetings for a senior bond in mid-November, may have missed the issuance window this year as the primary market slows to a standstill around the UK's general election.

Participants in the financial institutions bond market have displayed calm in the run-up to the UK general election next week. A lingering credit premium for the country’s banks, to cover for risks related to Brexit and the economy, has left investors feeling comfortable about any likely outcome of the vote.

Credit spreads suffered a bout of volatility on the back of another set of negative developments for global trade this week, casting a shadow over the positive run that financial institutions have enjoyed in the market recently.

Investors in the financial institutions bond market have not had much chance to invest in UK credit this year, especially in the euro market in light of the political uncertainty in the country. Much of the supply next year will depend on the UK general election results next week.

Groupe BPCE and BNP Paribas issued green bonds this week, attracting strong levels of demand for such a late stage in the year.

Intesa Sanpaolo and BNP Paribas hurried to make use of strong market conditions this week, building blowout order books for a pair of new senior deals in socially responsible formats.

Gerben Dragt will be the country executive for ABN Amro in the UK from February 1.

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