Crédit Agricole
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Crédit Agricole’s Benjamin Lamberg has been appointed as the bank’s new Taiwan chief executive officer, GlobalCapital Asia has learnt. -
Alterea, the French property developer, attracted strong demand for its sub-benchmark bond issue on Tuesday, prompting bankers off the trade to praise its execution.
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Sustainability-linked bonds (SLBs) have hogged much of the limelight in the socially responsible investment markets this year. But transition bonds, which had fallen out of favour for some time, have demonstrated there is clear demand for the product, following a strong deal for Snam this week and guidelines due for release in the coming days, writes Mike Turner.
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Two banks landed tight with environmental, social and governance (ESG) themed deals this week: Crédit Agricole settled at a record low on its social bond debut, while DZ Bank came even tighter with its first senior non-preferred green bond.
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Crédit Agricole landed at an extremely tight level on Wednesday morning as it made its social bond debut with a seven year senior non-preferred deal, following in the footsteps of last week's near zero yield print from Svenska Handelsbanken.
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BP, the oil major, was joined at the long end of the bond market on Tuesday by railway company Deutsche Bahn, as issuers take advantage of low spreads to stretch out their debt maturities.
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The UK’s SSE Renewables and Norway’s Equinor, two energy companies, have signed what lenders say is the largest ever offshore wind project financing, a £5.5bn package for a wind farm off the UK coast.
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BP, the UK oil major, and car rental company Sixt have hired banks for new bonds as the end of year issuance window looks set to stretch into next month.
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Snam, the Italian gas network company, has reinvigorated the transition bond market, servicing investors unable to buy sustainability-linked bonds.
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Market participants expect a sluggish start to the week but are hopeful that a favourable window might tempt a few names to bring deals forward. Up first is Crédit Agricole, which is preparing to make its first foray on to the social bond circuit.
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French hotels group Accor this week became the latest issuer to tap the convertible bond market for financing in the wake of the rally in value stocks following positive Covid vaccine news in early November.
