HSBC
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DCM bankers say that Taiwan’s Formosa market could offer compelling funding options for several Latin American bankers after Mexican utility CFE became the first Lat Am corporate to issue in it this week. -
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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.
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Though this week was expected to be something of a write-off for SSA issuance, thanks to Euromoney’s Global Borrowers & Bond Investors forum, a pair of issuers pulled off well-received transactions.
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Compass Group, the UK food service company, offered investors a choice of main courses on Monday, combining a €750m seven year bond with a £300m 12 year. Demand was plentiful for both and the new issue premiums were minimal.
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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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Reckitt Benckiser racked up $16bn in orders as it printed a four tranche bond to fund its purchase of US baby food maker Mead Johnson in an otherwise subdued week for corporate issuers in the US.
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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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China Reinsurance Finance Corp added $700m to its existing 2022 bonds through a tap on Wednesday, hitting its $1.5bn regulatory cap.
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India’s Rural Electrification Corporation (REC) has mandated banks for a green dollar bond, a first for the company.
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Property names China Jinmao Holdings Group and Shimao Property Holdings, along with India’s Adani Ports and Special Economic Zone, launched new dollar deals on Thursday.
