Banks

Sparebank 1 Østlandet priced €500m of debt in senior preferred format at a spread of 67bp over mid-swaps this week — 8bp tighter than the initial price talk. The issuer is not a frequent visitor to the primary market, so it had to pay a higher premium than other borrowers, according to a banker away from the deal.

Assicurazioni Generali has become the first European financial institution to launch a green tier two bond. The Italian insurer attracted €3.25bn of orders, helping it to price its €750m deal about 10bp inside fair value, according to a syndicate banker.

South Africa is back in capital markets for the first time in over a year and the first time since its ratings were placed on negative outlook by Fitch.

The Emirate of Abu Dhabi ended a two year absence from capital markets on Monday with a triple trancher, mirroring the tenors it used in its last trip to the market in 2017.

The Bunzl has signed a sustainability linked loan, with the global distribution and services company becoming the latest firm to link the margin on its bank debt to its carbon emissions.

Verallia, the French maker of bottles and jars, has begun bookbuilding for its €962m IPO, which will be the largest flotation in France more than two years.

Thailand’s S Hotels and Resorts has begun meeting investors ahead of its planned IPO, which is set to raise around $200m.

South Korean conglomerate Lotte has kicked off bookbuilding for a real estate investment trust IPO, marking the first float attempt in the country since Homeplus Stores pulled its billion-dollar Reit listing earlier this year.

Hong Kong-based Li & Fung and Thai state-owned PTT have kicked off their liability management programmes, and plan to support their tender offers with new bonds.

The European Bank for Reconstruction and Development won strong demand from investors as it brought a new type of green bond to the market last Friday. The deal aims to put more focus on the need to adapt to climate change, complementing the work being carried out to mitigate its effects.

ANZ is expanding its sustainable financing efforts with the appointment of a new business head.

SMBC has made two additions to its London desk for syndication origination in structured finance.