Banks
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Nomura has made sustainability one of the pillars of its fightback in investment banking, as it joins the race to harness the power of sustainability-related M&A and capital markets deals. -
Ontario printed a first green bond off its domestic medium term note programme this week, and the deal was over six times covered. Demand for green provincial paper is high, with Ontario coming a week after neighbouring Quebec.
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BMW issued the largest unsecured MTN of the year on Wednesday — outstripped in size only by a €700m privately placed covered bond from UniCredit, according to Dealogic. The trade was BMW’s largest since 2016.
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Société du Grand Paris hoovered up strong demand this week to sell the longest ever public syndicated green bond. The French agency was joined by three other public sector borrowers in raising socially responsible bonds this week, including the first European city to issue a social-labelled bond.
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The syndication of loans to fund Hellman & Friedman’s carve-out of AutoScout24 has seen strong demand, sufficient to support pricing through the tight end of talk on both tranches. The deal has also been recut to squeeze out a larger first lien, cutting the cost of a deal that is among the most levered public issues seen in Europe since the 2007-08 financial crisis.
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Export Development Canada has mandated banks for its first dollar benchmark of the year in what has been a quiet week in the currency for public sector borrowers. SSA bankers expect activity in dollars to pick-up next week, despite a US public holiday on Monday.
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World Bank cemented its status as one of the leading sterling issuers in the public sector bond market with a record-breaking 10 year deal on Thursday.
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In a negative interest rates environment, dividend strategies are becoming increasingly popular as a way to create positive yield for investors.
