Barclays

Chinese real estate developer Redsun Properties Group came to the bond market for the second time this year on Thursday, raking in $155m from a tap of its 2023 deal.

A trio of SSA borrowers hit the market for dollar paper this week, testing the waters across the curve and finding investors receptive. Although the top tier names are mostly well funded, demand is still hot for the extra yield offered by the second layer of SSA borrowers.

The Province of Alberta hit the market for a 10 year deal, raising $2bn and impressing onlookers with a solid order book. Its peer Quebec will follow up on Thursday with a five year. But despite Alberta's success, further supply at the tenor may be limited.

UniCredit attracted plenty of demand for a €1.25bn sale of non-preferred senior debt in euros on Wednesday, as issuers took advantage of strong funding conditions ahead of the summer period.

The Inter-American Investment Corporation (IDB Invest) raised $1bn with a three year bond on Tuesday, while the Japan International Cooperation Agency tested the water with a 10 year dollar transaction, opening up an opportunity for the Province of Alberta to follow suit.

Two groups of UK MPs held an online meeting today to welcome and promote a report into how the banking sector can support a ‘just transition’ to a low carbon economy. The report’s recommendations included creating a National Investment Bank to replace the role played by the European Investment Bank and for the UK to issue a green Gilt.

The Swedish National Debt Office has selected the maturity range for its debut green bond and the banks that will lead the transaction, which will take place via syndication in August.

Fitch played down fears about the impact of payment holidays on UK covered bond pools this week, arguing that high credit quality would offer a strong line of defence against defaults.

Investors have been given their first taste of how regulatory relief could bolster bank capital levels amid Covid-19, after Barclays told the market this week to expect a drastic improvement in its common equity tier one (CET1) ratio in the second quarter.

Indian solar power company SB Energy pulled its planned dollar bond late on Monday after grappling with a soft market backdrop and investor demand for a juicy premium.

Following investor calls last Friday, two public sector borrowers hit the market for new dollar bonds on Monday, with IDB Invest going for a three year maturity and the Japan International Cooperation Agency making a rare appearance for a 10 year trade.

Dalata, the Irish hotel group, has amended its main revolving bank facility to increase the size to €364m and take a break from covenant reporting. Loans bankers say the hospitality industry will still need more concessions from lenders, despite starting to reopen across Europe.