Banks
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A flurry of Swiss franc issuance dusted the market this week, as domestic and foreign borrowers entered a more settled market.
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Inter-American Development Bank was the only issuer to hit screens in US dollars this week, raising $500m with a seven year bond linked to the secured overnight financing rate — its longest ever in the format. -
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Ahold Delhaize, the Dutch-Belgian supermarket group, priced its debut sustainability-linked bond 7bp inside fair value on Thursday, despite tricky conditions in the corporate bond market, showing that investors are gaining an appetite for SLBs and like new flavours, writes Mike Turner.
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The European Union finally arrived with its second Support to mitigate Unemployment Risks in an Emergency (SURE) transaction of the year on Tuesday, two weeks after it sent banks a request for proposals (RFP).
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NRW.Bank became the latest non-UK public sector borrower to hit the sterling market this week, taking advantage of the attractive funding cost in the currency versus euros and US dollars.
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Commerzbank is looking to turn the page on a tumultuous period to create an investment bank that is “profitable, future-proof and independent.” This could be its last chance, writes David Rothnie
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Bank issuers are increasingly interested in the idea of selling tier two bonds in green formats. But green additional tier ones are unlikely to bloom.
