Crédit Agricole

Reliance Industries has allocated its $2.49bn multi-tranche fundraising among 31 banks, with plans to transfer in the new lenders before the end of the year, said bankers close to the trade.

The sovereign green bond market looks set to come of age next year, with some issuers confirming that they will join the likes of France in printing deals and others mulling the possibility. But the model may not fit all government borrowers — for the moment, at least. Craig McGlashan reports.

Austrian oil and gas company OMV discovered on Thursday that investors are far from finished with the investment grade corporate bond market in 2017. The strength of demand for its new nine year deal resulted in the company printing its largest ever bond.

Crédit Agricole has added to the momentum in systematic internaliser sign up, joining other banks in registering as one well ahead of a 2018 deadline.

A senior debt capital markets banker at Crédit Agricole CIB has moved to the bank’s sustainable banking team.

China General Nuclear Power Corp (CGNPC) raised around $1.5bn from a dual currency, triple-tranche transaction on Monday, which included a green bond. The issuer’s ambition to raise funds at the long end of the curve meant it offered a juicy pick-up on the five-to-10 year dollar curve compared to other A-rated state-owned names.

Crédit Agricole Cariparma issued a €750m eight year Obbligazioni Bancarie Garantite on Monday at the tightest spread to mid-swaps for an Italian deal since the sovereign credit crisis.

China Reform Holdings Corp, China General Nuclear Power Corp (CGNPC), Hong Kong’s Pearl Holding III and Shimao Property Holdings are among the issuers in the market with new transactions on Monday.

Skanska, the Swedish construction and property development company that is a leader in green building, has signed a €200m green revolving facility with four of its relationship banks.

Cemex, Thomas Cook, Telenet and Lowen Play injected €1.7bn of bond offerings into a visible high yield issuance pipeline already populated with Pinewood and CeramTec this week.

The global co-head of MTNs and private placements at Crédit Agricole has left.

A trio of equity-linked issues this week was capped off on Thursday by a €100m convertible bond due in April 2023 from Pierre & Vacances, the French operator of tourist villages.