Crédit Agricole

The European Investment Bank will re-open the euro public sector bond new issue market for the last funding period of the year. Further issuers are expected to appear this week, trying to get in before the European Union’s giant borrowing programme begins.

Germany will issue green Bunds every year in the future, hoping to “establish a green euro interest rate benchmark, thus creating added value for the sustainable finance market”, its government said on Monday, as it revealed details of its first two green bond issues.

China’s Zijin Mining Co has returned to the loan market for an $800m deal to refinance a borrowing used for its acquisition of Nevsun Resources.

Crédit Agricole's Swiss subsidiary is selling its first structured covered bond in Swiss francs. The deal will be issued under a new programme using Swiss contractual law in a change from the French law covered bonds issued by the parent bank in the Swiss franc market. Elsewhere in the Swiss market, Münchener Hypothekenbank issued a green bond on Friday.

JB Chemicals & Pharmaceuticals’ $206m loan is open in general syndication, with the proceeds going to support private equity firm KKR’s acquisition of a majority stake in the company.

Soaring demand and tight spreads lured repeat borrowers as summer dollar bond supply soared with $34bn of new issuance crammed into four days.

China Great Wall Asset Management Co reopened bond supply from the country's bad debt managers this week with a tightly priced $500m deal.

HSBC Holdings has launched a tender offer for nine short-dated senior securities in dollars as it looks to optimise its liability structure for the total loss-absorbing capacity (TLAC) requirements. The announcement followed a dual-tranche senior deal in the same currency.

Overcollateralisation (OC) levels have increased on covered bond pools since last year for European issuers, Fitch Ratings said this week. But while issuers in some countries, like the UK, showed a rise above the average, borrowers that have participated in central bank funding, like those in Germany, have managed to keep OC levels down.

The Loan Market Association is not looking at producing documentation for social revolving credit facilities, adding to the likelihood that the first-of-its-kind Covid-19 facility for Suez last week will remain a rarity in the market.

Suez, the French utility, signed what it claims to be the first ever social revolving credit facility, using elements of green and sustainability-linked financing to create a new Covid-19 era structure to mitigate some of the financial fallout from the coronavirus pandemic.

Phoenix Pharmahandel, the German pharmaceutical company, issued a five year euro-denominated bond on Wednesday, as pharma companies across the credit spectrum continue to hold investors’ attention.