Crédit Agricole

Klaveness Combination Carriers, a Norwegian shipping company, has signed what it claims to be the first sustainability-linked bank loan for the sector in Norway, as the outlook remains gloomy for global shipping.

Shinhan Financial Group raised $500m from a Covid-19 resilience social bond on Monday, finding support from investors keen to buy deals sold to help businesses and people impacted by the pandemic.

Four banks are set to sign the mandate letter for a $210m loan to support private equity firm KKR’s acquisition of India’s JB Chemicals & Pharmaceuticals.

Barclays appoints levfin and sponsors leaders — Créd Ag gives Goldfischer UK role — BTIG hires Huggins

Guarantor: Federal State of North Rhine‑Westphalia

NRW.Bank’s inaugural social bond sparked a flurry of 15 year trades this week as a flattening French curve and the positive yields on offer helped spur on demand, with three issuers opting to follow the German agency’s successful trip to the maturity on Wednesday.

Syndicate bankers are scrambling to make sense of the covered bond market, where sentiment has been changeable in recent weeks. Amid volatility and small issuance windows, sustainable bonds have proven a safe strategy to ensure successful deals.

The 15 year tenor is the flavour of the week in the SSA market. Three issuers have mandated for deals at the tenor so far, following on from NRW.Bank’s successful trip to the maturity on Tuesday.

Crédit Agricole has appointed Mariano Goldfischer, formerly in charge of global syndicate, to be head of global markets for the UK.

NRW.Bank signalled to the market that there is demand at 15 years with its inaugural social bond on Tuesday. Following the deal two other European issuers, Bank Nederlandse Gemeenten and Portugal, mandated for deals of their own in the tenor.

Berlin Hyp left ‘a little bit on the table’ with its new green covered bond on Tuesday. The trade was followed by deal announcements from Kookmin Bank and Sparebank Vest Boligkreditt, both looking to issue in sustainable format.

Mercialys, the BBB rated French shopping centre owner, launched a sub-benchmark bond with an eye-catching yield on Tuesday, wider than a simultaneous deal by Fiat Chrysler, which is crossover-rated. Syndicate bankers said trying to be precise about pricing and sentiment this week was more difficult than it had been for months.