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◆ UK defence company returns after seven year absence ◆ Sticky book as investors seek rare sterling supply from the sector ◆ Deal pays only small single digit concession
◆ UK supermarket chain takes euro route ◆ Demand holds firm despite sharp spread tightening ◆ Small new issue concession on offer
Four tranche deal could raise at least €2bn
Only a handful of names tapped the market ahead of Independence Day
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GLP, a Singapore-based logistics company, joined the flurry of green bonds hitting the market on Monday, with a subordinated perpetual note.
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Korea Expressway Corp sold its first sustainability dollar bond on Monday, raising $500m as its scarcity value appealed to investors.
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The spread benefit of ESG-linked debt was on clear display in Europe’s corporate bond market this week. For the second time in days, investors were offered two similar transactions and paid significantly more for the ESG option, in this case a green bond from Red Eléctrica.
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A smattering of European investment grade companies are lining up bond issues, as May continues to bring the turnaround in issuance levels that the market had been hoping for in the run-up to the UK bank holiday at the start of the month.
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Hong Kong's embattled Cathay Pacific Airways is gauging the market’s response for a new dollar bond, its first international outing in more than two decades.
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BOC Aviation has raised $250m from a tap of bonds sold just last month, finding solid support from US investors for its comeback.