BNP Paribas
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Milcobel, the Belgian dairy cooperative, has signed €166m in term and revolving credit facilities. The company has become the latest to refinance crisis debt taken out during the depths of the coronavirus pandemic. -
Zhejiang Geely Holding Group Co used a standby letter of credit from Bank of China's Singapore branch to price its $400m bond inside fair value.
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India’s Adani Green Energy has raised a $1.35bn green loan to support the construction of projects under its renewable portfolio.
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Repsol, the Spanish oil company, brought a junk rated hybrid capital bond on Monday, but orders fell away towards the end of the execution process as debt bankers say investors are becoming more price sensitive.
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Rabobank has developed a bilateral loan facility with a margin linked to food waste, in an attempt to homogenise parts of the otherwise bespoke sustainability-linked loan market, but not everyone is convinced that there will be much use for a one size fits all approach to KPIs.
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France became the latest European sovereign bond issuer to confront the problem of inflated orders with the sale of its second green OAT via syndication on Tuesday. But instead of bringing the spread in to price extremely tight like Italy and Spain did earlier in the year, France instead attempted to control the sale process by engaging with investors to persuade them not to put in excessive tickets in the first place. Burhan Khadbai reports.
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The FIG market enjoyed its busiest week of the year so far but not all trades are working as investors shun tightly priced deals, particularly those at the long end.
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Vienna Insurance Group was unable to build momentum in its 15 year bond syndication on Thursday as long dated US treasury yields climbed higher. The insurer was joined in the primary market by Santander, which paid a premium to launch its first callable non-preferred issue.
