Danske Bank
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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. -
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.
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Two issuers in Europe’s high grade corporate bond headed to the short part of their curves on Monday as inflation worries continue to rattle the market ahead of the European Central Bank meeting on Thursday.
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Danske Bank found a smooth ride in the non-preferred senior market on Wednesday, even as investors started to wonder about relative value in the asset class.
