Danske Bank
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Volkswagen Financial Services, the financing arm of the German car maker, blew the cobwebs off the high grade corporate bond market on Thursday, as Becton, Dickinson and Co lines up a quadruple tranche trade for next week. -
Loomis, the Swedish cash handling company, has signed a €265m-equivalent credit facility, with the borrower maintaining the same level of net bank facility debt.
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Teknos, a Finnish maker of paints and industrial coatings, strayed from the standard playbook when designing the key performance indicators for its first sustainability-linked bank loan, a €140m deal.
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Oriola, a Finnish health and wellbeing company, has signed a €140m revolving credit facility, with the company adding sustainability targets to its bank debt for the first time.
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Volkswagen Financial Services on Monday became the latest company to print a sterling bond through its euro curve, but supply for sterling investors is expected to remain limited.
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The ESG loan market has had a busy week, with Swedish ingredients company AAK and German container shipping firm Hapag-Lloyd agreeing sustainability-linked and green debt.
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AAK, an ingredients company in Sweden, has renewed its €400m revolver, adding sustainability-linked metrics to the deal for the first time.
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Hybrids and crossover rated corporate bond issuers hit screens this week, as the thirst for yield returned to the European market.
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Sweden became the latest European sovereign to access the ultra-long end of the curve this week as it launched its first 50 year bond, opening up the long end of the krona curve for other highly rated names.
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The two riskiest issuers in Europe’s corporate bond market on Wednesday both opted for size over pushing hard on pricing. Poste Italiane with its hybrid capital issue and crossover-rated Finnish nuclear power company Teollisuuden Voima priced bigger than expected deals.
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The African Development Bank sold its first kangaroo bond in social format on Tuesday as supply of ESG-labelled bonds in niche currencies by public sector borrowers gathers pace.
