LafargeHolcim's tight pricing helps cement SLBs’ place in the market

By Mike Turner
17 Nov 2020

LafargeHolcim, the French-Swiss construction materials company, breezed past fair value on its debut sustainability-linked bond (SLB) on Tuesday, helping dampen concerns from some corners of the market that investors might struggle to get comfortable with the structure’s unspecified use of proceeds.

LafargeHolcim, rated Baa2/BBB/BBB, opened books on a euro benchmark 10.4 year (April 2031) SLB at 110bp over mid-swaps. 

Equity markets were slightly softer on Tuesday after some meteoric price rises on Monday, sparked by the announcement from US biotech firm Moderna that it had created a vaccine with almost ...

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