Crédit Agricole
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Spain was able to raise €5bn of 30 year paper on Tuesday, braving difficult market conditions to close the deal. While the trade was a success, the sharp fall in the order book at the final spread indicated some investors are beginning to push back on price. -
Spain has announced another trip to the ultra-long end, electing to come to market in spite of volatility sparked by increased fears around the spread of coronavirus.
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The Arab Republic of Egypt has hired a group of international banks to arrange its debut green bond. Though the deal will be the first sovereign issue of its kind in the Middle East and North Africa region, it adds to a string of green issuance from corporates and banks, which are developing a taste for ESG-linked debt.
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Chinese delivery services company SF Express is planning to repay a HK$5bn ($640m) loan sealed in September 2019 with the proceeds of a longer tenor bond issued last week.
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Cadent Gas, the UK gas distribution network spun off by National Grid in 2017, will roadshow from Tuesday next week for a €500m transition bond. The deal is likely to delight green bond specialists who have championed the idea of transition bonds as a way to finance companies that are not green, but are moving towards lower carbon business models.
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Teréga, the French gas transport utility, enjoyed chunky demand for a €400m bond issue on Thursday, despite its sub-benchmark size.
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Renewable energy company Vena Energy stumped Asian investors with its debut bond sale on Wednesday, relying instead on heavy support from Europe.
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A pair of SSA borrowers hit screens on Wednesday for green euro benchmarks. However, one has decided that its marketing process will be entirely conducted over the phone.
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Alstom, the French maker of trains and railway equipment, has struck a €7.45bn deal to acquire Bombardier’s trains division and will partly finance the trade via a €2bn rights issue later this year or in early 2021.
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Oil and natural gas company Pertamina sold Indonesia's first 40 year dollar bond on Thursday. Investors flocked to the long dated paper, sold as part of a two-tranche transaction, pushing orders to more than $3bn for the $800m portion.
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