Crédit Agricole

One borrower took advantage of an excellent backdrop to scoop up its first green funding in euros at an attractive level on Tuesday, while a second issuer is lining up to follow suit in dollars.

US machinery manufacturer, John Deere, returned to the euro corporate bond market on Tuesday, selling its second deal in September. The €500m five year deal was issued by the company’s John Deere Bank entity.

Germany’s federal election on Sunday caused ripples in government bond spreads throughout the eurozone on Monday, but concerns are subsiding already, allowing one agency to announce its first euro green bond.

Heineken used the quieter end of the week in terms of issuance to price its second benchmark corporate bond issue of the year. The sixth benchmark issue of the year in Europe by a beer producer was the only deal in the market on Friday.

I Squared Capital’s $900m-equivalent Hong Kong dollar loan backing its acquisition of Hutchison Global Communications (HGC) pulled in more than 20 banks during senior syndication, with more expected to join before the deal wraps up this week.

Industrial and Commercial Bank of China is jumping on the green bandwagon, hiring firms to work on its inaugural green deal denominated in dollars and euros, to be sold through its Luxembourg branch.

Artemis, the Pinault family holding company that owns €17bn of shares in Kering, the French luxury goods group, raised €383m on Tuesday with an innovative equity-neutral exchangeable bond, in which Crédit Agricole acts as an extra counterparty to investors.

Gatwick Airport brought the second sterling investment grade corporate bond of the week on Thursday, following Pennon’s £300m hybrid on Monday.

In September, a number of issuers have returned to the European corporate bond markets after a number of years without issuing. On Wednesday, German chemicals distributor Brenntag, Australian property company Goodman and Austrian steel company Voestalpine were the latest to join that list.

Three sub-investment grade borrowers printed deals in the high yield corporate bond market on Thursday using different tenors to raise a combined €1.06bn.

Spanish gas distribution company NorteGas Energía Distribución was the only investment grade corporate bond issuer in the euro corporate bond market on Thursday. Its debut deal was a €1.3bn five year and 10 year dual tranche offering with order books totalling €5.4bn.

Crédit Agricole issued a six and a half year Swiss franc bond on Thursday, opting for senior preferred in a bid to diversify towards Swiss investors.