Crédit Agricole
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Glencore, the Swiss commodity trading company, got a lukewarm response from the euro bond market on Tuesday, as investors prepared their cash piles for a flurry of deals from rare and high beta names. -
The State of Baden-Württemberg will be holding investor calls this week to introduce its new green bond framework ahead of a debut deal in the format.
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BNP Paribas and UBS opened the offshore Australian dollar FIG market for 2021 this week, with a pair of new senior deals.
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US high grade corporate names hit the European market at the outset this week with WP Carey and General Motors selling bonds and Equinix mandating for a green deal. But syndicate bankers say rising US rates are still some way off the sweet spot to make the euro market irresistible for all Reverse Yankee issuers.
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Crédit Agricole has picked banks to run a planned senior preferred Panda bond, its third outing in the format. An investor call has been scheduled for next week.
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The rally in Swiss fixed income over the last year allowed Geneva Airport to price a new 10 year deal this week 70bp tighter than where it printed a three year deal last April.
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The financial institutions bond market had its Roger Bannister moment this week, as Deutsche Kreditbank broke the zero yield barrier for the first time. Now that a German borrower has lifted the negative yield taboo, bankers expect even deeper yielding deals could follow.
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Hamburger Hochbahn, the city public transport operator, made its bond market debut on Wednesday, slotting into the market neatly with a €500m 10 year green bond and a €3bn order book.
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European asset manager Amundi is launching an open-ended fund for institutional and retail investors that will buy hard currency green bonds issued by emerging markets issuers.
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Hamburger Hochbahn, a government owned public transport operator in Hamburg, is set to make its bond market debut this week, launching itself as a regular bond issuer.
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Deutsche Kreditbank (DKB) has broken the zero yield barrier with its latest deal, a €500m five year green senior preferred bond issued on Monday.
