BNP Paribas

The new green hybrid bond from Dutch utility Tennet was trading tighter on Thursday, quelling suggestions from bankers off the trade that the deal’s oversubscription level was an indication that it would underperform.

Fives, the French industrial equipment group, has signed a €200m loan backed by the state, as government-backed facilities continue to prove essential to tackling the economic fallout from the coronavirus pandemic.

Chinese food and beverage company Bright Food sold a euro-denominated bond via its Singapore arm on Wednesday, raising €800m. It leaned on Chinese bank support to price the deal at a tighter level than where European investors were willing to buy.

Nationwide Building Society put an end to a two year absence from the euro senior market this week, taking advantage of solid issuance conditions to bring in €1bn of new funding.

Tennet, the Dutch utility, lit up the market with a €1bn green hybrid that came flat to its curve on Wednesday, though some away from the trade said they would have expected to see a slightly larger book for such a well-regarded issuer.

Lat Am bond markets continued to demonstrate growing risk appetite as Brazilian petrochemical company Braskem began marketing hybrid bonds on Tuesday.

South Korea’s NongHyup Bank (NH Bank) added to the flow of Covid-19 linked bonds from Asia on Monday. It raised $500m from a five year social bond.

Dollar bonds sold by Bank of Communications and Industrial and Commercial Bank of China widened in the aftermarket on Tuesday after both firms took a tight approach to pricing.

Indian solar power company SB Energy pulled its planned dollar bond late on Monday after grappling with a soft market backdrop and investor demand for a juicy premium.

Bank Rakyat Indonesia has opened a $1bn loan into general syndication with a group of 10 lenders at the helm.

Tennet, the Dutch utility, has mandated for a long-telegraphed green hybrid bond, as the company looks to protect its credit rating during stakeholder discussions with the German and Dutch governments.

Oatly, the Swedish oat milk producer, is taking on debt to finance building two new factories with its first ever syndicated loan, and naturally chose a sustainability-linked instrument, its chief financial officer said. Those hoping for an IPO will have to wait a while longer.