BNP Paribas
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Italy made its long-awaited green bond debut this week, and set new records for the biggest and longest sovereign green bond. -
Europe’s high grade corporate bond investors had their pick of US names this week, with issuers cramming in to raise €7.2bn of debt across 10 tranches.
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Bank of Ireland’s inaugural green bond attracted the largest financial senior book in euros this week, peaking at €2.5bn, as it offered investors a chance to pick up labelled paper at a shorter tenor and with plenty of spread.
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AusNet Services, the Australian power networks company, and Italian power company Enel earned rapturous responses from investors for euro hybrid capital bond issues this week, even though the trades followed a sell-off in riskier assets.
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Grid operator Transpower New Zealand returned to the Swissie market this week, landing through its outstanding curve while offering a small premium over Swissgrid.
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Daimler, the German car maker, sold green debt on Thursday. Though the company printed inside its conventional curve, it did not match the sort of negative concessions it achieved in its debut green outing.
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Hamburg Commercial Bank is aiming to establish a regular market presence as part of its post-privatisation transformation plan by following a senior deal on Tuesday with a return to a non-preferred format later this year.
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Mamoura Diversified Global Holding, an Abu Dhabi sovereign investment vehicle, launched a euro bond on Thursday. Issuers with access to and a need for both currencies, investors said, will find a haven in the euro market while volatility in dollar yields continues.
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Barclays won plaudits for steering a 21 non-call 20 tier two into an extremely tight pricing level this week, following earlier examples from the large French banks. It accompanied its deal with the sale of some long dated senior paper.
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Europe’s high grade corporate investors had their pick of US risk on Wednesday, with a trio of names raising €5.2bn of debt across seven tranches.
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Italy took orders of over €80bn for its first green BTP on Wednesday to become the latest sovereign to enter the green bond market. Germany was also in market, raising €3bn with its first 15 year deal via auction.
