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The World Cup is being played outside European trading hours, but don't underestimate its potential for disruption
Hybrid capital is open to the big US tech companies. But who needs an umbrella when the sun is shining?
◆ UMG takes €1bn with first public trade in three years ◆ Trade punches through fair value ◆ Investors not concerned by AI or M&A
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Repsol, the Spanish oil and gas company, is lining up investor meetings to show off its freshly published transition financing framework, after being the first oil major to bring a divisive green bond that is due to mature next year. -
Nobian, the industrial chemicals unit of Nouryon, launched the debt package for its spinout on Friday, offering up a €1.19bn ESG-linked five year term loan 'B' through Credit Suisse, HSBC and JP Morgan. This will be followed by a bond deal, which is yet to be announced, to complete the €1.615bn senior secured financing.
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Alternative asset manager CVC Capital Partners has issued €1.25bn in US private placements, according to market sources. The trade follows similar moves by Bain Capital and Dyal Capital in the past 12 months, but is the first iteration of the trend to be priced in euros.
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Germany’s BMW sold two Panda bonds in China’s interbank market on Thursday, tapping onshore liquidity with a publicly syndicated deal for the first time. The transaction was also a rare public outing from a ‘real’ Panda issuer.
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Chinese local government financing vehicle Ganzhou Jiankong Investment Holding Group Co sold a $270m bond on Thursday.
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Bank of America has set up an EMEA ESG strategic council chaired and led by three senior investment bankers, to intensify its effort to reduce its carbon footprint and manage its climate risks. BofA made a net zero commitment in February but has not yet set out its decarbonisation trajectory.
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