Barclays

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The World Bank sold its second supersized bond of 2020 as it capitalised on a calm market and a lack of competing supply in dollars this week, as well as leaning on the strength of its name, which continues to attract new investors looking to make an impact investment.

Three banks rode out a volatile bond market this week, printing senior deals amid positive sentiment caused by talks making it seem an agreement about a new US Covid-19 stimulus package was closer on Tuesday.

The World Bank blew the cobwebs out of the dollar market on Wednesday, raising $6bn with a five year Sustainable Development Bond.

Iberdrola, the Spanish energy utility, launched a €3bn dual tranche hybrid capital bond on Wednesday, as syndicate bankers say the hunt for yield is encouraging issuers to push boundaries on the amounts they raise in hybrid issues.

A pair of banks made opportunistic moves into a euro market buoyed by positive headlines around a potential US stimulus bill on Wednesday. France’s Crédit Mutuel Arkéa and Japan’s Sumitomo Mitsui Financial Group each tapped for senior paper, raising €500m a piece.

ReNew Power, the Indian renewable energy giant, brought a $325m green bond to the market on Tuesday. It offered investors a rare opportunity to buy a high yielding deal from the country, despite using a fairly unusual structure for its transaction.

One by one, banks are taking responsibility to help fight climate change, by setting targets to eliminate carbon emissions from their whole financing portfolios by 2050. This will not suffice. Banks must learn a new way of interacting with clients.

The European Union impressed as it sold its highly anticipated debut syndicated bond under its Support to Mitigate Unemployment Risks in an Emergency (SURE) funding programme on Tuesday, with the deal receiving record breaking demand at minimal new issue premiums.

The European Union finally hit screens on Monday afternoon to announce the highly anticipated debut syndicated bond under its Support to Mitigate Unemployment Risks in an Emergency (SURE) funding programme.

The banks financing GardaWorld, the Canadian security firm, for its £3bn ($3.92bn) bid for UK rival G4S are in for a £180m payday if the deal goes through, but the target company has again rejected the bid.

The world’s biggest banks sat out the primary bond market in dollars this week, dashing hopes of a pre-election funding blitz.