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BNG EUR750m 0.05% Nov 29 sustainability bond
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BNG and Kommuninvest join ESG ratings trend
Bank Nederlandse Gemeenten and Kommuninvest followed in the footsteps of KfW as they included their environmental, social and governance (ESG) ratings in the terms sheets for socially responsible bonds this week, with the latter selling the largest single-issue green bond from a Nordic public sector borrower.
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People moves in brief
Del Canto joins Berman at agora — O'Higgins to retire from ICBC Standard — Miller becomes new IBCM head at Credit Suisse
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Rabo hires Mizuho banker for SSAs
Mizuho MTN banker Alain Sanz-Gadea has moved to Rabobank.
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BNG follows KfW with ESG ratings disclosure
Bank Nederlandse Gemeenten included its environmental, social and governance (ESG) ratings in a mandate announcement for its upcoming sustainability bond on Monday, following in the footsteps of KfW which kickstarted the movement with its green bond tap last week.
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KBN makes impressive return to euros
Kommunalbanken was almost twice covered for its 10 year euro trade on Thursday as it returned for its first benchmark in the currency since 2017.
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Rigging Libor was wrong but so is tossing away the benchmark
UBS and Citi trader Tom Hayes was jailed for 11 years for manipulating Libor. But while the trader argued that he was made a scapegoat for the financial crisis, perhaps the rate he rigged is a bigger victim.
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Years after Libor scandal, experts argue benchmark should stay
As the market prepares for Libors to end their run as the world’s most prevalent reference rates, there is growing support for the benchmarks to be reprieved.
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MuniFin EUR500m 0.05% Sep 29 green bond
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SSA DCM banker rejoins NatWest Markets
A public sector debt capital markets banker is returning to NatWest Markets, where she worked between 2010 and 2017, GlobalCapital understands.
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MuniFin eyes debut social bond in 2020
Municipality Finance is looking to publish its social bond framework this year ahead of a debut bond in the format, as it looks to extend its offering of socially responsible bonds.
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Asfinag gets strong reception for 10 year with positive yield
Austrian agency Asfinag won a big order book on Tuesday, allowing it to price 3bp tighter than guidance, in a 10 year tenor the issuer hasn't accessed since 2009. Municipality Finance and the German federal state of Lower Saxony will add to the euro SSA supply on Wednesday with a 10 year green bond and a seven year benchmark, respectively.
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Trio of SSAs out in euros amid ‘risk on’ tone after G20
Three public sector borrowers announced plans for new issues on Monday as issuers took advantage of a shift in sentiment following the G20 summit at the weekend.
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Rabo SSA banker rejoins UBS
A syndicate banker at Rabobank focusing on sovereigns, supranational and agencies (SSAs) has left after just six months to return to UBS, where he worked between 2015 and 2017.
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NWB EUR1bn 0.125% May 27 affordable housing bond
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NWB launches new social framework
Nederlandse Waterschapsbank has inaugurated its updated social housing bond framework with a €1bn SRI issue. The new framework includes an environmental aspect alongside pre-existing social elements.
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Dutch government registers green investors ahead of debut
The Dutch government is preparing to issue its first green bond next week, and has introduced a new feature to the market: investors can register as accredited green bond investors to receive preferential allocations.
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BNG EUR1bn 0.125% Apr 26
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EFSF and CoE price tightly, three more SSAs coming to euros
The European Financial Stability Facility and Council of Europe Development Bank left little on the table with their euro bond issues on Wednesday. More supply is expected, as three more borrowers have picked banks for deals expected this week.
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People moves in brief
Nomura strengthens special situations team — JP Morgan’s Orssten retires — Gamekeeper goes back to being poacher at Rand
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Records smashed across high grade bonds as investors flood in
Investors are returning to the covered bond, sovereign and supranational agency (SSA) markets in their droves. Despite exceptionally heavy issuance, the startling breadth and depth of demand seen in many deals this week caught market participants off guard — not least the investors themselves. Bill Thornhill reports.
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Bank Profiles
Latest news by market and league table performance
Bond Comments
-
Commerzbank EUR500m 0.5% Dec 26
-
Intesa Sanpaolo EUR750m 0.75% Dec 24 green
-
Islamic Development Bank EUR1bn 0.037% Dec 24
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NN Bank EUR500m 0.375% Feb 25
-
Nykredit Realkredit EUR500m 0.25% Jan 23 non-preferred
-
Caixa Geral de Depósitos EUR500m 1.25% Nov 24 non-preferred
-
UK DMO GBP2.25bn Inflation linker Aug 41 tap
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Rentenbank EUR1bn 0% Nov 29
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Land NRW EUR1bn 0% Nov 29, EUR1.5bn 0.5% Nov 39, sustainable bond
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Kommuninvest USD1bn 1.625% Apr 23 green bond
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Arab Republic of Egypt USD500m 4.55% Nov 23, USD1bn 7.05% Jan 32, USD500m 8.15% Nov 59
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BNG EUR750m 0.05% Nov 29 sustainability bond
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KfW EUR1bn FRN Nov 22
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EAA EUR1bn 0% Nov 22
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EFSF EUR1.5bn 0.05% Oct 29 tap
All International Bonds
Rank | Lead Manager | Amount $bn | No of issues | Share % |
---|---|---|---|---|
1 | JPMorgan | 380.40 | 1762 | 8.35% |
2 | Citi | 351.67 | 1514 | 7.72% |
3 | Bank of America Merrill Lynch | 302.44 | 1301 | 6.64% |
4 | Barclays | 271.64 | 1137 | 5.97% |
5 | HSBC | 224.52 | 1238 | 4.93% |
Bookrunners of All Syndicated Loans EMEA
Rank | Lead Manager | Amount $bn | No of issues | Share % |
---|---|---|---|---|
1 | BNP Paribas | 48.34 | 226 | 7.37% |
2 | Credit Agricole CIB | 43.62 | 205 | 6.65% |
3 | JPMorgan | 33.50 | 97 | 5.11% |
4 | SG Corporate & Investment Banking | 29.45 | 149 | 4.49% |
5 | UniCredit | 29.45 | 158 | 4.49% |
Bookrunners of all EMEA ECM Issuance
Rank | Lead Manager | Amount $bn | No of issues | Share % |
---|---|---|---|---|
1 | JPMorgan | 13.16 | 82 | 8.29% |
2 | Goldman Sachs | 12.58 | 64 | 7.92% |
3 | Morgan Stanley | 12.18 | 55 | 7.66% |
4 | Citi | 10.09 | 71 | 6.35% |
5 | Credit Suisse | 6.93 | 38 | 4.36% |