Banks
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Verbund, the Austrian electricity company, became the first European issuer to sell a green sustainability-linked bond on Wednesday, combining the benefits of two different approaches to sustainable finance in a single deal. -
Europe’s high grade corporate bond market was busy this week, as slightly improved market conditions prompted a diverse set of issuers to lock in funding before the end of the quarter.
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Julius Baer ventured into the Swiss franc market this week to sell its debut operating company bond, raising Sfr260m ($276.9m) in an investor diversification exercise. It was joined by Pfandbriefzentrale, which saw demand skewed to the long and short ends of its latest multi-tranche covered bond offering.
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BPER Banca overcame its sub-investment grade rating on Thursday, attracting plenty of demand for an inaugural social bond that will fund Covid-19 related lending in southern Italy.
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The European Union will complete the funding for its Support to Mitigate Unemployment Risks in an Emergency programme next year, rather than this summer as previously planned.
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Europe’s corporate bond investors got stuck into unrated debt on Thursday, as German airport operator Fraport and French care home company Orpea printed bonds.
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Athene Global Funding encountered slim demand on its return to the sterling market this week, but UBS had better luck at the short end of the maturity curve.
