BBVA
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The palette of socially responsible investment bonds is expanding. Two borrowers made SRI debuts this week with a social inclusion bond and a sustainability bond, while a third has announced its intention to follow suit. -
Spain’s BBVA paid next to no new issue premium for €1.5bn of new funding this week, picking its moment to return to a very healthy market for floating rate notes.
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Spanish car parts supplier Grupo Antolin found strong demand for its refinancing deal on Thursday in a high yield market where new bond sale volumes have dropped to less than a third of March’s €3bn average.
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A pair of European borrowers debuted socially responsible investment bonds on Monday, raising a combined €1.2bn, with one able to tighten its price by several basis points.
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BBVA and Commonwealth Bank of Australia were both targeting the five year part of the maturity curve on Monday, tapping into good demand in the vanilla senior debt market.
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Instituto de Crédito Oficial brought some rare short dated euro paper this week and was able to rely on heavy support outside the bank community — despite some people on and off the deal expecting banks to buy the deal in bulk.
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A flurry of activity in the market for socially responsible investments shows no sign of letting up, with two borrowers set to make their debut next week and two more waiting in the wings.
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The Autonomous Community of Madrid has announced that it will sell its first ever sustainability bond, joining the flock of borrowers landing in the socially responsible investment (SRI) market as the first quarter of 2017 draws to a close.
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Instituto de Crédito Oficial brought some rare short dated euro paper to the market on Monday, as it raised €500m with a long three year deal that drew heavy interest from investors outside Spain.
