Currencies
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Sovereign green bonds are becoming almost commonplace in Europe, but not all are convinced. Slovakia has no intention to enter the market, saying it is a costly exercise that “would not help anyone”. -
The New Zealand Treasury reduced its 2020/21 funding programme by NZ$10bn ($6.75bn) to NZ$50bn on Wednesday as its economy shows signs of a quicker recovery than seemed likely after the coronavirus lockdown earlier this year.
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Rentenbank impressed SSA bankers on Tuesday as rolled out its debut benchmark green bond. The deal is expected to pay no new issue premium at the final spread.
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The Africa Finance Corporation, the pan-African development finance institution (DFI), has mandated a pair of banks to lead its first ever green bond issue, which it will sell publicly into the Swiss franc market.
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Altice France is marketing a €900m equivalent eight year bond across dollars and euros, coming hot on the heels of Friday’s announcement that Patrick Drahi, the billionaire owner of the telecoms group, was trying to take Altice Europe private.
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China National Chemical Corp (ChemChina) made a splash in the bond market this week with a dual currency five-tranche deal that raised close to $3bn.
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The World Bank hit screens on Monday with a new seven year New Zealand dollar bond; the first at that tenor from a foreign issuer in almost 18 months.
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Rentenbank is moving forward with its plans to issue a debut euro green benchmark bond following a series of investor meetings over the past few weeks.
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Nissan Motor made its debut in the European bond market on Friday with a €2bn deal that investors would have liked larger and differently shaped, just a day after it had issued its first ever foreign currency bond, for $8bn.
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Spain is looking to follow hot on the heels of the soaring demand Italy attracted this week with its own syndicated bond which could come as soon as next week in what is likely to be a busy one for new issues ahead of the European Union’s re-entry as a jumbo borrower, according to SSA bankers.
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Hungary returned to the Samurai market after a two year absence on Friday to sell the first ever sovereign green bond in the market, which formed part of its ¥62.7bn (€500m) four tranche deal, which the sovereign used to extend its debt curve while also introducing a new investor base to the credit.
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