French Sovereign
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Bank Nederlandse Gemeenten on Tuesday printed “another great example” of what bankers said were the “tangible price benefits” of selling SRI bonds. The trade came in the same week that France tapped its famous green OAT — or GrOAT — via auction. -
France announced this morning it would tap its green bond, the famous green OAT or GrOAT, on December 7. The deal will come just before President Emmanuel Macron holds a climate summit in Paris.
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Green bond specialists are interested to see whether France will issue another green OAT (GrOAT) to coincide with the country's president Emmanuel Macron's One Planet Summit in December.
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Once the unwavering bastion of eurozone strength, stable through an otherwise turbulent year, the German government managed to unsettle the euro market this week. The collapse of the German coalition talks at the weekend forced one SSA borrower to adjust its plans on the fly and was partly blamed for two borrowers’ failure to fill their order books. Lewis McLellan reports.
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Two of the three SSA euro syndications this week found the market tough going, relying on lead managers to fill orderbooks. Some SSA bankers lay the blame, in part, on the collapse in German government coalition talks at the weekend.
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Bpifrance on Wednesday became the second euro borrower to fail this week to reach full subscription, selling a €500m deal from a book of around €425m.
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Unédic completed its funding programme for 2017 with a seven year benchmark on Tuesday, selling into a market eager for French paper. Bpifrance will look to capitalise on the same appetite after mandating for a Wednesday deal.
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Unédic has announced that it intends to sell a seven year benchmark from its unguaranteed Neu MTN programme on Tuesday, in what is likely to be the borrower’s final benchmark of the year.
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