BNP Paribas
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China National Chemical Corp (ChemChina) made a splash in the bond market this week with a dual currency five-tranche deal that raised close to $3bn. -
French agency Cades will debut its social bond framework in dollars on Tuesday, less than a week after it raised the largest ever bond in the format with its inaugural issue in euros. It will share the market with the International Development Association (IDA), which is preparing to kick off its 2020/21 funding year with a sustainable development benchmark of its own.
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Coventry Building Society was unable to tighten its pricing for a new senior bond in the sterling market on Monday, as UK credit spreads widened on the back of the latest Brexit developments.
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Munich Re and Unipol Group are lining up new green bond transactions for this week, as they look to replicate the success of similar deals and gain a ‘pricing advantage’ in the market.
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The Republic of Bulgaria has mandated banks to arrange a dual tranche bond in euros, making it the latest sovereign to add to the swelling supply from the central and eastern European (CEE) region.
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Bank of China rolled out a dual-currency blue bond on Monday, making it the first borrower in Asia to market a marine sustainability transaction.
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Voluntary efforts could bring about a global market in trading carbon offsets, even before there is a statutory basis for this, according to the leader of a new taskforce launched by Mark Carney, former governor of the Bank of England.
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BNP Paribas has provided term loans to Altice Europe, whose founder Patrick Drahi has offered to buy €2.5bn of the shares he doesn't already own to take the French telecoms group private.
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Ford, the US car maker, offered investment grade bond investors a chance to dip into high yield on Tuesday. And its rival, Nissan Motor, is lining up a seven tranche behemoth bond issue that will create a euro curve out to eight years.
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Issuance in Europe’s high grade corporate market trended towards high beta names this week, with a spate of deals from riskier names, including the first outing for German fallen angel ZF Freidrichshafen since its downgrade.
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Following its inaugural sustainability bond on Monday, Luxembourg hopes that other sovereigns will use its framework as a starting point for their own outings in the format. The Grand Duchy’s sustainability framework is the first to align with the recently published EU taxonomy.
