BNP Paribas

Investors rewarded Zhenro Properties Group for selling its first green bond this week, pumping orders into the $350m transaction and allowing the issuer to price the deal at its lowest coupon ever.

Indonesian oil and natural gas company Pertamina has shortlisted six banks for a bridge loan of as much as $3bn to support its acquisition of energy assets.

The summer slowdown finally arrived in the US corporate bond market this week, with just a handful of issuers showing up before September's season truly begins — bringing what is expected to be a bumper crop of deals.

Europe’s high grade corporate market continued to offer plenty of demand for riskier structures this week, with multiple hybrids again taking up screen space.

Royal Schiphol, the Dutch airport operator, brought a dual tranche conventional and green bond with a small to flat new issue premium on Tuesday. The issuer opted to make the longer 12 year tranche green, which bankers say is indicative of lengthening maturities in the typically mid-tenor corporate green bond market.

Shell, the oil and gas major, visited the sterling bond market for the first time for around six years on Thursday, printing £1bn of long maturity debt and creating a curve out to 2052.

Daimler blasted far through its conventional bond curve with its €1bn debut green deal on Thursday, in a first for the European automotive industry that is expected to herald a spate of similar issuance — and could reset expectations about the difference between green and conventional bond pricing.

In a busy week for European sovereign sustainable issuance, Municipality Finance took the chance to sell its debut social bond — the first in the format from any Nordic SSA.

KBC was marketing a fixed-to-floating rate note on Thursday. Strong demand allowed it to tighten pricing by 15bp during execution.

The top investment banks will achieve substantially higher returns on equity this year, predicts analytics firm Coalition, after revenues in fixed income, currencies and commodities (FICC) soared in the first half of the year.

Merck, the US pharmaceutical company, launched a chunky €1bn hybrid on Wednesday, as syndicate bankers said they expect even more subordinated corporate debt despite the flurry since returning from the summer break.

Glencore, the UK commodity trading company, captured the corporate bond market’s attention on Wednesday with the first test of demand for a cyclical credit since the summer break. Investors jumped at the deal, with leads launching it flat to the borrower’s curve.