BNP Paribas
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Korea Hydro & Nuclear Power (KHNP) raised $600m with a green bond on Wednesday, offering no new issue premium to an investor base desperate for environmentally friendly assets. -
Birla Carbon has closed a $1.2bn multi-tranche loan after attracting six participants during senior syndication, according to a banker close to the situation.
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Bank Nederlandse Gemeenten on Tuesday achieved big size and a decent price with a €750m tap of a 10 year bond whose original issue had underwhelmed — leading one SSA banker to reference Hollywood by calling the reopening the “Shawshank Redemption”.
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Power generation group Contour was in the euro high yield market this week with a two tranche double-B bond refinancing, with the firm looking to join a raft of other issuers that have refinanced despite spreads leaking wider this year.
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A holding company owned by Dubai’s Oger Telecom has come to an agreement with all of its lending banks to give control of Turk Telekom to creditors, after months of restructuring talks on a $4.75bn loan.
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French telecoms firm Altice called on the high yield bond and leveraged loan markets with a €4bn cross-border refinancing deal this week, hoping that improved quarterly results would help investors shake off the apprehension they showed for the credit in March.
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Société d’Infrastructure Gazières, a holding company jointly owned by CNP Assurances and Caisse des Dépôts whose sole asset is a 24.91% minority stake in natural gas network GRTgaz, has issued a €586.4m Euro PP bond.
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Italian electricity network operator Terna sold its first green bond on Monday and was rewarded with an order book that was more than 5.5 times oversubscribed.
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Korea East-West Power Co (EWP) raised $500m from a sustainability bond on Thursday that proved popular both in the primary and secondary markets, reflecting investors’ eagerness for defensive names.
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Investor appetite remains strong for longer dated euro SSA bonds, encouraging the likes of EFSF and KfW to tap the long-end of the curve this week. But the question is: will the demand last, and for how long?
