Lafarge thrives, but Citycon green hybrid is a tough sell

Three companies piled into the euro bond market on Monday, but the deals drew mixed reactions. Two standard investment grade issues from LafargeHolcim and Ford Motor Credit appeared to fare better than a rare green hybrid from Citycon paying a juicy yield.

  • By Mike Turner
  • 18 Nov 2019

LafargeHolcim, the Franco-Swiss building products company rated Baa2/BBB, brought a €500m no-grow seven year, while crossover credit Ford Motor Credit Co (Ba1/BBB-/BBB) visited a similar part of the curve with a six year, expected to be €500m.

Lower rated was the first hybrid deal, and first green ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.

Global Green Bonds

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 13.58 59 6.88%
2 Credit Agricole CIB 10.87 66 5.50%
3 HSBC 10.35 74 5.24%
4 BNP Paribas 10.27 65 5.20%
5 JPMorgan 9.29 62 4.70%