Investors pounce on corporate ESG debt, slashing concessions

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By Mike Turner
25 Nov 2020

Investors pumped €11.65bn of orders into €1.6bn of green and sustainable corporate bonds on Wednesday when paper company Stora Enso, utility Fluvius and real estate firm Cofinimmo all built bulging order books.

Finland’s Stora Enso, rated Baa3/NR/BBB-, and Belgium’s Fluvius (A3) both targeted 10 year maturities with green deals, while fellow Belgian Cofinimmo, BBB with S&P, hit the seven year part of the curve.

“There are now very clearly identifiable pockets of sustainability demand across the tenor spectrum,” said Arthur Krebbers, ...

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