Crédit Agricole
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CNP Assurances and Helvetia Europe have added to issuance momentum in the insurance sector, giving investors the chance to put money into subordinated capital. The tier two bonds showed that ‘the market is back in shape’, said one deal arranger. -
CLP Power Hong Kong has added $750m to its coffers from a dual-tranche bond, taking advantage of the hot demand for its subsidiary’s recent issue to attract investors.
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NRW.Bank has mandated banks to arrange a series of virtual fixed income meetings as it looks to present its new social bond framework to investors ahead of a debut deal in the format.
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Investors appeared to be more sensitive of price movements in new issues of covered bonds this week, with valuations in the asset class having returned to within touching distance of their January levels.
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Bank of China (BOC) raised $1bn from a dual tranche transaction at a negative premium on Thursday, after strong demand from its large syndicate group.
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Lenders to Wirecard, the embattled German payments company, will have to decide whether to call in its €1.75bn syndicated loan, after its auditor EY refused to sign off its 2019 accounts, which the company announced on Thursday, sending its share price into a spiral. Markus Braun, the company's CEO, resigned on Friday.
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After making its highly anticipated debut in the international capital markets with a dollar benchmark this week, New Development Bank is looking to build a diversified funding programme, with euro and sterling-denominated bonds on the agenda for 2020. The new supranational has also set itself a target to become a triple-A rated issuer.
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Green bonds made up the majority of the supply in the euro bank bond market on Thursday, with Hypo Noe and Santander capitalising on strong demand for the asset class.
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Hong Kong power generator Castle Peak Power Co took the nascent transition bond market a step further this week, selling a $350m deal that showed the potential for the sector. Morgan Davis reports.
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Chinese chemical company China National Bluestar (Group) Co raised $500m from a subordinated perpetual bond on Wednesday.
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The European Investment Bank and the State of Brandenburg have mandated banks to bring euro deals on Thursday, in what has been an extremely thin week for supply with issuers well funded and some weakness in secondaries.
