French Sovereign
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Calls are growing louder for sovereigns to pull their weight and assume a leading role in the development of the green bond market. But, as was demonstrated at panels in Euromoney’s Global Borrowers & Bond Investors Forum this week, many of them are reluctant to take up the SRI baton, write Lewis McLellan and Sharon Kimathi. -
Société de Financement Local (SFiL), a French agency, sold its inaugural dollar trade this week, issuing into an otherwise quiet market.
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Régie Autonome des Transports Parisiens (RATP), the Paris transport authority, printed its inaugural green bond on Thursday, selling a €500m no-grow into a thrice oversubscribed book and pulling the price in 5bp from guidance.
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French agency Société de Financement Local (SFiL) raised $1bn with its first ever dollar bond on Wednesday, while the German State of North Rhein-Westphalia pushed out its curve to 2048.
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Régie Autonome des Transports Parisiens (RATP), the Paris transport authority, is coming to market for a 10 year green bond on Thursday.
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Bank Nederlandse Gemeenten slam-dunked a single day euro execution on Monday into a market buzzing from a pair of eurozone election results over the weekend. Another two issuers have lined up euro deals — including one debut.
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The scores have been counted and the results for the benchmarks sold in the week commencing May 29 are in. The week produced only a smattering of public sector trades trades, and not all were warmly received.
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Eurozone issuers crammed into the euro market on Wednesday ahead of a European Central Bank meeting.
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The UK Debt Management Office (DMO) is keeping its options open on a planned syndication for September, as Gilt yields fell following polls showing the opposition Labour Party was gaining ground on the ruling Conservatives ahead of next week’s UK general election.
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Caisse des Dépôts et Consignations (CDC) sold its largest ever sterling bond on Thursday, raising £300m with a three year deal.
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The UK Debt Management Office is keeping its options open on a planned syndication for September, a deal some investors feel the sovereign should use to push its conventional curve out to 2072. Meanwhile, a French agency is bringing its first syndication in sterling for over two years.
