Crédit Agricole
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Latvia was in market on Monday for a tap of a 30 year bond, returning to the line it opened three months ago. The deal enjoyed strong demand, allowing leads to slice 6bp from the spread.
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Caisse des Dépôts et Consignations (CDC) will introduce its new green, social and sustainability bond framework to investors ahead of a debut euro benchmark sustainability bond.
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Thursday’s corporate bond new issue action in Europe confirmed the picture presented on Wednesday: that investors were determined not to let macroeconomic issues bother them, and were piling into new issues. The day was less blemished than the previous one had been by volatility, enabling issuers to get some very tight spreads.
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KfW and the World Bank brought well received socially responsible bonds to the market this week that set new landmarks for the public sector borrowers.
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France’s Eiffage has doubled the size of its revolving credit line to €2bn, with the civil engineering construction company becoming the latest name to add social and environmental language to its loan documentation.
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A trio of French companies moved ahead with Schuldschein deals this week, and bankers expect the coming weeks to be packed with borrowers seeking to raise funds before the summer.
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Crédit Agricole highlighted euro DCM activity as a successful area in its first quarter results, with the league table showing it mixed with the big banks here.
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Investors proved they were able to digest KfW's largest green bond yet on Tuesday. Deals in the billions of euros are set to become the norm for the Issuer as it looks to size its green trades closer to its conventional benchmarks.
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Switzerland’s Transocean has amended its bank revolving credit facility to increase the size to $1.36bn, with the fallen angel offshore contract drilling services provider keeping an additional $140m in the wings on the undrawn facility.
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KfW picked banks on Tuesday to lead its largest ever green bond. The deal will come from its recently updated green framework, which includes funding for energy efficiency projects, in addition to the renewable energy sector in Germany.
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MTNs from Middle Eastern banks have flowed freely over the last week, with borrowers printing a range of currencies to take advantage of basis swap opportunities, amid little competition from European financials, say bankers.