Citi

One of Europe’s major electricity producers, Portugal’s EDP, sold its first green bond on Tuesday, aligning its fundraising with the company’s green principles. Meanwhile, Dutch airport owner and operator Royal Schiphol Group announced plans for its debut green bond. Both followed French vehicle leasing company ALD’s inaugural green bond.

Kommunalbanken showed “the resilience of the dollar SSA market” as it printed a $1.5bn October 2021 Reg S/144A benchmark around its secondary level amid global market volatility on Thursday, said SSA bankers away from the deal.

China’s Niu Technologies has launched bookbuilding for a $103.8m Nasdaq IPO, but despite plenty of pre-deal interest, sources said they did not expect the trade to be a blowout.

A pair of debut green bond borrowers made blistering entries to the market on Wednesday. Ireland added its name to the growing list of sovereign green issuers with what on-looking bankers said was a “blowout”, while Société du Grand Paris (SGP) printed at the very top of its size expectations on what was also its debut bond issue of any kind.

SSAs are enjoying strong conditions in dollars, with KfW and the Province of Ontario finding plentiful demand on Wednesday despite bringing deals that on-looking bankers said were “pretty much” in line with secondaries. Kommunalbanken will price a dollar benchmark on Thursday that leads said was following a similar pattern.

American data centre owner Digital Realty extended its sterling corporate bond curve on Wednesday. The issuer’s fourth deal in sterling showed no sign of investor fatigue.

Sibur, the Russian petrochemical company, announced a bond buy-back on Tuesday, targeting the borrower’s October 2023 bond.

Hyundai Oilbank, a subsidiary of South Korean shipbuilding firm Hyundai Heavy Industries, is expected to delay its IPO until 2019, according to a banker working on the deal.

China’s Niu Technologies has launched bookbuilding for its $103.8m Nasdaq IPO, but despite plenty of pre-deal interest, sources don't expect the trade to be a blowout.

KfW and the Province of Ontario will hit separate parts of the dollar curve on Wednesday, with the former circulating what one on-looking banker described as “punchy” price thoughts. The deals followed a well-received floating rate note from a German Land that doubled in size.

Wednesday will be debut day in the green bond market, with Ireland preparing a 12 year inaugural euro benchmark and Société du Grand Paris (SGP) out with a 10 year that will also be its first bond issue of any kind. Both must contend with a market backdrop rife with Italian politics-driven turbulence, although SGP’s deal has so far had what one lead called “one of the strongest starts I’ve seen for a French issuer”.

One of Europe’s major electricity producers, Portugal’s EDP sold its first green bond on Tuesday, aligning its fundraising with the company’s green principles.