Europe

Anglian Water, priced a £250m eight year green bond on Monday. The size and tenor are unremarkable, and in a generation of sustainability and responsibility, a green bond should cause similarly few ripples. However, this was the first sterling-denominated green bond issued by a corporate borrower since 2015.

Investec took advantage of an open market and limited competition this week to tap its sterling May 2022 senior bond.

Westpac this week followed Canadian Imperial Bank of Commerce in taking advantage of a glut of sterling covered bond liquidity. It issued a sizeable five year sterling covered bond which is expected to provide cheaper funding than the euro or dollar equivalent, boding well for additional supply.

Returns data shows passive funds are lagging their active counterparts in the European high yield bond market, investment firm Alliance Bernstein said in a report on Tuesday. But active fund managers expect passive money to grow.

The European Banking Authority (EBA) has questioned whether banks will be able to place large quantities of new debt into the capital markets for the minimum requirement for own funds and eligible liabilities (MREL), with issuance volumes set rise in 2018 and 2019.

Cheyne Capital has hired two veterans of the leveraged finance market to head its newly announced sub-investment grade credit business, as it looks to capitalise on what it perceives as increasing dislocations in the market.

China Resources Land plans to issue its first mortgage or management fee-backed securities by the end of 2017, chief financial officer James Yu has told GlobalCapital Asia's sister publication GlobalRMB.

United Biscuits, the maker of McVitie’s biscuits and Jacob's crackers, is to sign a £725m syndicated loan facility in the coming weeks to refinance a loan taken out in 2015 to fund its acquisition by Turkey’s Yıldız Holding.

Turkey’s Coca-Cola İçecek (CCI) is set to offer investors a rare chance to buy Turkish corporate debt, and has announced its intention to raise up to $1bn from the bond markets within the next year.

Anglian Water priced a £250m eight year bond on Monday, its first green bond and the first from a UK water company since the Green Bond Principles were introduced in 2015.

Two European agencies are set to launch dollar transactions on Tuesday, defying any talk of a summer slowdown to take advantage of supportive conditions.

Mémora, the Spanish funeral services provider, has released price talk on a €300m loan package backing its buyout by the Ontario Teachers’ Pension Plan from 3i.