Crédit Agricole
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Crédit Agricole and Nykredit Realkredit were able to push aggressively on pricing in the additional tier one (AT1) market this week, as they took advantage of favourable supply and demand dynamics.
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Europe’s high grade corporate issuers secured another day of bulging order books on Wednesday, as concerns about scant primary supply to come washed away investor jitters about a collapsed $2.2tr fiscal stimulus deal in the US.
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The European Bank for Reconstruction and Development ventured out to raise its largest ever bond linked to the secured overnight financing rate (Sofr) this week in what otherwise a thin week for issuance in dollars.
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Sweden hit the dollar market on Tuesday, raising $2.5bn with a two year benchmark in what is likely to be the week’s only SSA dollar supply.
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Société du Grand Paris plans to steam ahead with funding as it announced a doubling of its green EMTN programme and a substantial increase to its 2020 funding programme to help prefund the financing for the next three years of the Grand Paris Express project.
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GAC-Sofinco Automobile Finance Co is readying a Rmb4bn ($589m) return to the auto loan asset-backed securities market, opting for the same structure as its last thinly priced deal.
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Sweden is preparing to issue a two year dollar bond in what is likely one of the final syndicated deals from eurozone sovereigns this year.
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The European Financial Stability Facility mandated banks on Monday to lead a euro dual tranche transaction in what could be the issuer’s first and final outing of the fourth quarter.
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Green, social and sustainable issuance has dominated the supranational and agency bond market for a whole month, consistently outpacing conventional supply. That trend looks set to continue with three SRI deals already on screens.
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Egypt this week became the first sovereign issuer in the Middle East and North Africa to issue a green bond. The deal had been delayed by the coronavirus pandemic, bankers said, but it gained considerable traction from investors when it was finally brought to market.