BNP Paribas
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Bpifrance will be holding calls with investors next week to introduce its new green bond framework ahead of a debut deal in the format with the proceeds to be focused on renewable energy projects. -
Iberdrola, the Spanish utility, and Clarion Housing, the UK housing association, became the latest companies to sign loans using risk-free rates instead of Libor, as more deals are signing that ditch the scandal-ridden benchmark from day one.
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Iberdrola, the Spanish utility, has signed a €2.5bn sustainability-linked loan, becoming the first Spanish company to use risk-free rates as a benchmark instead of Libor.
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Airtel Africa, the UK telecommunication company providing services across Africa, has raised $500m from a range of international lenders. It becomes one of the latest Africa-based issuers to inject activity into the syndicated loan market.
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Danfoss, a Danish engineering firm, and UK bottling company Coca-Cola European Partners found the biggest demand at longer maturities in their multi-tranche bond issues on Wednesday, as inflation fears fade from Europe’s corporate debt market.
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Coats, the UK industrial thread producer, has signed a $360m loan, adding environmental, social and governance metrics to its bank debt for the first time.
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Yorkshire Water priced a £350m bond inside fair value on Tuesday, shrugging off allegations that it had failed to properly report dumping waste water, although a few investors did raise the subject during marketing.
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China-based Herald International Financial Leasing Co, a unit of BMW Group, has returned to the onshore securitization market. It switched to a straightforward two-tranche structure for the Rmb3bn ($461m) auto lease asset backed notes (ABN), pricing the senior tranche at a competitive spread.
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A handful of investment grade corporate borrowers are out with mandates on Monday, with market conditions improving for them after last week’s bonds have traded tighter despite pricing with small premiums.
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Nykredit Realkredit ended a six year absence from the tier two format in euros this week. With conditions for subordinated bond sales looking good despite looming blackouts, bankers feel now is the time for issuers to "go go go."
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Equate Petrochemical, the petrochemical producer part-owned by Kuwait, has laid plans to re-enter the international debt markets after less than a year since its last outing. The mandate comes just days after the IMF warned Kuwait to undergo fiscal consolidation after its economy shrank last year.
