Euro
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Inalfa Roof Systems Group, a Netherlands-based car roof system supplier owned by Beijing Hainachuan Automotive Parts, is tapping Asian liquidity for a €200m loan. -
Iceland plans to defrost its euro curve with a new syndicated issue, its first since December 2017.
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Renaissance Credit has announced its intention to come to market for a Reg S euro subordinated bond. The trade will be the borrower's first trip to the market in almost six years.
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The Netherlands this week set a number of precedents in the sovereign green bond market with its highly anticipated debut deal in the format.
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The Netherlands got a huge reception for its highly anticipated inaugural green bond on Tuesday, with a final book of over €20bn that allowed the sovereign to issue at the upper end of its target.
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Latvia re-opened its 2049 line on Monday, bringing the total to €1bn with a tap that came almost flat to its curve and completed its funding programme for the year.
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The Dutch State Treasury Agency (DSTA) has released initial spread guidance for its inaugural green bond, which will be launched via Dutch Direct Auction (DDA) on Tuesday.
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Latvia was in market on Monday for a tap of a 30 year bond, returning to the line it opened three months ago. The deal enjoyed strong demand, allowing leads to slice 6bp from the spread.
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Russian Rail’s debut green Eurobond last week met with strong demand, but some investors had reservations about buying green bonds from a company owned by the Russian state and used to transport fossil fuels. Antonio Keglevich, UniCredit’s head of sustainability bond origination, responded to the criticism.
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Russian Railways launched the first international green bond from its home country on Thursday, a €500m eight year bond. While many emerging market investors were keen to look at the paper, despite the US considering a new round of Russian sanctions, several green investors disliked the company’s ESG enough to not participate.
