Banks
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The International Development Association sold its second sterling bond this week to extend its curve in the currency from December 2024 to September 2027. -
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World Bank sold the longest ever Sofr-linked floating rate note from a public sector borrower on Thursday with a $600m 10 year trade.
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Prologis, the US logistics real estate investment trust, and unrated French telecoms company Iliad showed the range of corporate deals on offer this week, with investors pouncing on both trades.
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Fonplata, the South American supranational development bank, raised Sfr200m of 5.5-year bonds in the Swiss franc market on Wednesday, increasing the size of the deal from an initially planned Sfr150m. Alongside this, a clutch of domestic borrowers also tapped the market this week.
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Three eurozone sovereigns all extended their euro curves with huge order books for syndicated transactions this week in a sign of rampant investor appetite for long-dated debt.
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Whitbread, the UK hotel and pub company, enjoyed roaring demand for its debut green bond on Wednesday, as it managed to convince investors that it can plan for life after lockdowns.
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Telecoms firm Telefónica and utility Iberdrola showed the depth of demand for green hybrids this week, with both Spanish companies building large order books.
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Sustainability-linked bonds conquered a new investor base this week, as the instrument spreads rapidly around the world. Surbana Jurong, an architecture and engineering consultancy indirectly owned by the Singapore government, brought the first such instrument to the Singapore dollar market, where it aroused keen interest.
