ABN Amro

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.

Student Hotel finds bed for sustainable loan — Italo mainlines green loans — Green bond stalwart Tennet signs — Scottish Mortgage returns to US PP — CVC-owned April preps rapid refi

An Austrian firm has become the first European Union-domiciled bank to join Eurex’s ISA Direct offering as a basic clearing member.

The Netherlands’ Tennet Holding has increased the size of its bank revolving credit facility to €3bn and linked the margin to sustainability goals, in a deal the electricity transmission system operator says is the largest sustainability-linked revolver in the Benelux region.

Issuers in the financial institutions bond market do not want to see the chance for cheap funding slip, so more are lining up deals. On Monday, Landesbank Hessen-Thüringen (Helaba) mandated leads for a preferred senior bond in euros, and UK insurer Utmost International said it was aiming for an senior unsecured bond in sterling.

Royal Bank of Scotland launched its debut social bond on Friday, attracting over €2bn of orders for its €750m offering. The trade benefited from a favourable backdrop in the primary market and an increased appetite for UK credit caused by a scarcity of issuance from the country this year.

The Netherlands’ Stedin Holding, a holding company for electricity and gas grids, issued its debut green bond on Thursday, pricing it through its curve.

Royal Bank of Scotland is preparing to sell its first social senior bond from its holding company, giving investors a rare chance to add exposure to a UK issuer in the format.

Fitch is forecasting a negative outlook for the issuer ratings of some of the largest lenders in the Netherlands, warning that the early introduction of a risk-weight floor for mortgage assets could weigh on the country’s banking sector through additional capital demands.