BNP Paribas
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Europe’s high grade corporate bond market began this shortened week for issuance with an ESG focus, as Australian engineering company Worley mandated for its debut sustainability-linked bond and UK housing association Notting Hill Genesis began marketing a sustainability deal.
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BNP Paribas has made two appointments to its global markets team in Asia Pacific. -
Mondadori Group, the Italian book and magazine publisher, has signed €450m of loans from four banks, with the borrower slashing 25bp off the margin as competition to lend to mid-caps soars in Europe.
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Sustainable bond issuance from central and eastern Europe is set to rise as issuers face growing pressure from investors to show they are embarking on the transition to a lower carbon economy, even if governments in the region are still dragging their feet, writes Jon Hay.
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Europe’s high grade corporate bond issuers had a tough week in the primary market after inflation fears sent investors fleeing risk.
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Muenchener Hypothekenbank (MunHyp) harnessed the growing demand for environmental, social and corporate governance (ESG) paper in the Swiss market to land a tap 7bp through the bid side this week. Elsewhere, Toyota ended a 12 year absence from the Swiss franc market to sell the currency’s first automobile deal of the year.
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Ryanair, the Irish budget airline, landed a far more solid bond issue this week than shopping centre operator Unibail-Rodamco-Westfield (URW) had a day earlier, in an early indication of what the bond market might look like as the worst-hit sectors recover from the coronavirus pandemic.
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Europe’s high grade corporate bond issuers had a second tough day running on Thursday, as secondary spreads inched wider and investors proved lukewarm to new issuance.
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The Polish oil refiner and petrol retailer PKN Orlen launched its debut green bond on Thursday. The trade is one of the very first of its kind from an oil company.
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Eurostar, the company that runs trains through the Channel Tunnel between London and Europe, has signed a £250m commercial financing package, months after it begged the UK government for bailout funding.
