Crédit Agricole
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A pair of seasoned green bond issuers brought deals in the format this week — but each opted to print in a currency in which it had not sold green bonds before. -
The State of North Rhine-Westphalia has launched its first ever 50 year benchmark, coming to market just as Bank Nederlandse Gemeenten landed at the short end.
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Asian Development Bank picked up €600m and was able to tighten pricing as it sold a green bond in euros for the first time.
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Beverage company Rémy Cointreau has signed a €100m syndicated loan, with a pricing structure that could see the margin on the debt plunge by more than 70% if certain conditions are met.
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A pair of supranational issuers are this week bringing new currencies to their green funding offerings.
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The State of North Rhine-Westphalia is set to bring its longest ever euro benchmark, as public sector borrowers line up trades across the currency’s curve.
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Two borrowers, Marlink and Iris Software, offered a string of new medium sized leveraged loans this week, following the recent launch of some highly anticipated jumbo deals that sources say have helped renew investor interest in the European market.
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France plans to forge ahead with tapping its debut Green OAT rather than introducing new SRI lines, despite some investors calling for a shorter dated alternative. Craig McGlashan and Lewis McLellan report.
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British oil and gas company BP returned to the European corporate bond markets on Thursday for the first time in a year. Two euro tranches came 12 months after the company’s last euro offering, and a sterling tranche was its first in its domestic currency since August 2016.
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Korea National Oil Corp (KNOC) has sold its first dollar bond of the year, opting for a Formosa transaction in Taiwan.
