Crédit Agricole
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French recycling firm Paprec and US Reit Medical Properties followed the path trodden by other eight issuers this week, entering the high yield market on Tuesday and pricing their deals after short roadshows. -
The IPO of Innogy was voted Equity Capital Markets Deal of the Year and JP Morgan judged ECM Bank of the Year in GlobalCapital's 2016 Awards - read the full results here.
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Shares in Amundi, the French asset manager, closed 4% lower on Tuesday after it announced the terms for its €1.4bn rights issue to partly finance its takeover of Pioneer Investments, the asset management division of UniCredit, for €3.5bn.
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The European Investment Bank has tapped its longest green line, adding €500m to the November 2037 Climate Awareness Bond.
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Oversea-Chinese Banking Corporation (OCBC) stepped into the euro covered bond market for the first time with a well received €500m deal that capitalised on strong technical demand in the five year part of the curve.
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Crédit Agricole Cariparma is expected to issue the first Italian covered bond of the year after it mandated leads for an eight and 12 year which is likely to be launched on Tuesday. The offering takes advantage of technically squeezed market conditions exacerbated by the lack of peripheral European supply.
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Oversea-Chinese Banking Corporation Limited (OCBC) will become the third Singaporean borrower to issue a euro-denominated covered bond this year and is expected to open order books for its debut deal on Tuesday. The deal is going to be a rare five year, so it is likely to get good execution.
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If there was ever an idea whose time has come, it is green securitization. Action to green the economy is super-urgent, and progress so far has been worryingly slow.
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The revival of banks using securitization to free up regulatory capital could open new possibilities for accelerating the financing of a greener economy, as a ground-breaking deal demonstrated this week, write Jon Hay and David Bell.
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Export-Import Bank of China managed to achieve the lowest spread for a euro bond from a Chinese name this year with its three year in the currency, part of a $3bn-equivalent Reg S deal.
