Crédit Agricole
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The week began with that rarest of things in recent times, a welcoming political backdrop. It was marred, however, by monetary policy meetings from the two most important central banks in the world. While the US Federal Reserve’s second rate hike of the year was a foregone conclusion, it caused the dollar curve to flatten still further, making the euro market even more fertile funding territory than it has been for SSAs. But even so, euros had its own struggles this week, facing what one head of SSA syndicate called “one of the most important and unpredictable European Central Bank meetings for a long time”. Lewis McLellan reports. -
KommuneKredit will hit the road next week to talk up a new green bond, while a fellow Nordic issuer is looking to enter the social bond market — although not for some time yet.
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KommuneKredit will hit the road next week to talk up a new green bond, while a fellow Nordic issuer is looking to enter the social bond market — although not for some time yet.
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The Paris IPO of Delachaux Group, the French maker of railway equipment, has been called off after CVC agreed to sell its stake in the company to Caisse de dépôt et placement du Québec (CDPQ) for an undisclosed price.
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Industrial and Commercial Bank of China (Asia) on Wednesday priced a triple-tranche green bond. But the deal, comparatively smaller than recent issues at $730m equivalent, had a moment of intrigue when one global co-ordinator left the syndicate group.
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A French agency hit the short end of the euro market on Wednesday in what is likely the final SSA euro benchmark ahead of the European Central Bank’s meeting on Thursday.
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Bank of China’s Luxembourg branch has signed a $1.05bn syndicated loan after launching the deal at half that amount in the latest display of lenders scrambling to allocate funds.
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Sweden’s Lundin Petroleum has slashed 90bp off the margin of its $5bn reserves-based lending facility, as borrowers continue to heap pressure on lenders over pricing.
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Allocations for a €3.025bn acquisition loan from Czech investment fund PPF Group are due in the next few days, according to a lead.
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Industrial Bank of Korea mandated banks for a social bond issuance on Tuesday, viewing the product as a natural fit for the first transaction from its socially responsible bond framework. Meanwhile, ICBC Asia is looking to sell a new green deal.
