Bank of America
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The IPO of Pirelli, the Italian tyre company, has been priced at €6.50, the bottom of the revised range, valuing the business at €6.5bn. -
Asia’s green finance story is not just about China and India. Although the US has threatened to pull out of the Paris Agreement, southeast Asia has reiterated its commitment to sustainability. As Morgan Davis reports, that is beginning to be felt in its financial markets, where countries such as Malaysia, Singapore and Indonesia are exploring ways to foster green financing.
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Kia Motors Corp has mandated banks for a new dollar deal, with a global roadshow kicking off in early October.
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Dollar borrowers failed to take advantage of pent-up demand and tightening spreads as US corporate bond supply recorded a lacklustre end to the month.
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Automotive finance companies rarely issue corporate bonds with tenors longer than four or five years, due to the assets they need to fund. This week, however, three of them sold five year bonds.
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Public sector borrowers this week smashed through their conventional curves with green bond issues. But there was some debate over whether this marks the start of a trend or is merely the product of scorching conditions in both the euro and dollar markets.
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Rarely, in any walk of life, one meets someone who stands out from the crowd — whose qualities command the admiration of all around them.
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JD.com has rolled out its first international syndicated loan and the $500m deal has already attracted a lot of attention from banks. The Chinese e-commerce company is loss-making but lenders are enticed by the prospects of ancillary business and an expected improvement in its financial position after the recent spin-off of JD Finance, reports Shruti Chaturvedi.
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Industrial and Commercial Bank of China is set to become the first Mainland bank to sell a green bond aligned with both international standards and China’s framework.
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KfW has punched through its conventional curve with a dollar green bond that left bankers away from the trade a similar colour of envy. More SRI supply is on the way, after the European Bank for Reconstruction and Development hit screens for Thursday’s business.
