Banks

Canadian Imperial Bank of Commerce returned to the euro covered bond market for its first deal since March 2020, issuing a highly subscribed €1bn eight year flat to fair value this week. At the same time Laurentian Bank said that its programme had received regulatory approval.

Aeroporti di Roma made its debut in the sustainability-linked bond market on Thursday, with a structure that allows for several shades of performance, rather than the simple flat rate 25bp coupon step-up usually used.

HSBC has named a senior Wells Fargo banker as its new head of global banking for Europe, replacing the departing Philippe Henry.

Bpifrance will be holding calls with investors next week to introduce its new green bond framework ahead of a debut deal in the format with the proceeds to be focused on renewable energy projects.

Iberdrola, the Spanish utility, and Clarion Housing, the UK housing association, became the latest companies to sign loans using risk-free rates instead of Libor, as more deals are signing that ditch the scandal-ridden benchmark from day one.

The Asian Development Bank this week sold its first gender bonds in Canadian and Australian dollars as part of what the borrower describes as its commitment to supporting projects that promote gender equality and women’s leadership.

Bank of China sold one of its high-profile multi-currency, multi-tranche bond deals on Wednesday. The trade, which spanned five of the bank's global branches, raised a combined $2.35bn.

Iberdrola, the Spanish utility, has signed a €2.5bn sustainability-linked loan, becoming the first Spanish company to use risk-free rates as a benchmark instead of Libor.

The government of Malaysia has made a triumphant return to the bond market, raising $1.3bn from a dual tranche sukuk. The inclusion of a sustainability label meant a diverse set of investors flocked to the trade, allowing the sovereign to surpass its initial size goal. Morgan Davis reports.

Canadian Imperial Bank of Commerce returned to the euro covered bond market for its first deal since March 2020, issuing a highly subscribed €1bn eight year flat to fair value on Thursday.

Airtel Africa, the UK telecommunication company providing services across Africa, has raised $500m from a range of international lenders. It becomes one of the latest Africa-based issuers to inject activity into the syndicated loan market.

The Mexican conglomerate Fomento Económico Mexicano (Femsa) was in the market for sustainability-linked bond in euros on Thursday, marking the latest in a string of innovative trades from the Latin America.