Novartis joins growing sustainability issuer group, Kion mandates

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By Mike Turner
15 Sep 2020

Novartis, the Swiss pharmaceutical company, is set to join the nascent sustainability-linked bond market this week after mandating banks for a trade and investors will have another chance to pick up crossover rated debt in a deal from forklift truck maker Kion Group.

Novartis, rated A1/AA-, has hired Barclays, HSBC, JP Morgan and Société Générale to arrange investor calls for euro benchmark-sized, eight year sustainability bond.

“It’s exciting,” said a banker at one of the leads about the growth of sustainability bonds in Europe’s high grade market. 

The sustainability structure was borrowed from ...

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