HSBC

Engie, the French energy group, priced its second green bond transaction of 2017 on Tuesday. The triple trancher contained two green clips and took the issuer’s tally to six different green bonds. As issuers start to establish genuine green curves, they are starting to create their own sector, writes Nigel Owen.

The MTN market has produced a slew of dollar trades while the syndicated market was subdued by the midweek Federal Reserve meeting. Supranationals in particular have been able to pick up some sizeable dollar funding.

UK housebuilder Miller Homes this week brought its first high yield deal, coming at a time when spreads on sterling bonds with speculative grade ratings have tightened more than 100bp so far this year.

Order books for the dual tranche high yield bond deal from German pharmaceutical company, Stada, closed at noon on Thursday. Such was the demand for the secured tranche that the deal was was increased by €250m.

Deutsche Bahn raised A$600m ($475.4m) with its debut Kangaroo bond on Thursday, making it the first German corporate to issue in the market.

CapitaLand Commercial Trust Management is looking to raise S$1.82bn for its acquisition of Asia Square Tower 2 through a combination of debt and equity.

Postal Savings Bank of China Co launched its highly anticipated additional tier one dollar bond on Thursday, seeking a whopping $7bn from what could be the world’s largest AT1.

In September, a number of issuers have returned to the European corporate bond markets after a number of years without issuing. On Wednesday, German chemicals distributor, Brenntag, Australian property company Goodman, and Austrian steel company, Voestalpine, were the latest to join that list.

Sibanye Gold, the South African gold miner, took the final step towards refinancing its acquisition of US platinum miner Stillwater on Tuesday, when it issued a $450m convertible bond.

Deutsche Bahn is soft-sounding investors about a lengthy Kangaroo bond, with an eye on Australian and Asian buyers.

On Tuesday, Gecina, the French property company, printed a successful €700m long 10 year bond, having sold €1.5bn of bonds as recently as the end of June to help fund its acquisition of Eurosic.

Engie, the French energy utility, priced its second green bond transaction of 2017 on Tuesday. The middle tranche of its three tranche offering extended the issuer’s green bond curve, however the longest tranche was not sold as a green bond.