Crédit Agricole
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General Motors Financial, the financing subsidiary of the US automotive giant, hit the European corporate bond market with speed on Wednesday as it issued a benchmark transaction. -
Municipality Finance will sell its debut green bond in dollars, rather than in euros as it previously intended, in order to secure cheaper funding.
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China’s Yestar International Holdings Company and South Korea’s Nonghyup Bank have kicked off investor meetings for their respective bond offerings.
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Crédit Agricole has strengthened its Hong Kong operation with the appointment of a new senior country officer.
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Though Crédit Agricole is rarely considered one of the glitziest houses in the capital markets, a target of doubling revenues in global markets in five years’ time stands in sharp contrast to the gloom pervading its peers. It’s a plausible plan, too — the future belongs to the well-capitalised.
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UniCredit Italy took advantage of constructive conditions and scarce Italian covered bond supply to launch a 10 year on Wednesday. The bank was rewarded with a well oversubscribed order book while paying little new issue premium.
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A surfeit of supply hit the long end of the covered bond curve this week as issuers piled in to take advantage of extraordinarily cheap funding conditions that are unlikely to last long. Bill Thornhill reports.
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Sparebank 1 Boligkreditt on Tuesday followed Commerzbank into the covered bond market. By coming 20bp back of Commerz, the Norwegian sale was much smoother.
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General syndication for a $12.7bn loan to back China National Chemical Corp’s acquisition of Swiss biotech firm Syngenta is set to wrap up.
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OCI Nitrogen, the subsidiary of fertiliser giant OCI, has signed a €550m credit agreement with 17 banks, 10 of which are new lenders.
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The euro market is braced for a difficult close to the year. Given the turbulent conditions expected, green bonds may come into their own.
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NRW.Bank will look to bring a euro green bond later this year, perhaps as soon as October, according to head of investor relations Frank Richter.
