HSBC
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The demand for duration reached fever pitch this week as Austria sold the longest dated eurozone government bond ever and a trio of other public sector borrowers printed their longest dated syndications to date. But that momentum towards length may have been halted by a shuddering sell-off in eurozone and other government bonds on Thursday.
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Pub group Enterprise Inns on Monday and mortgage lender Together on Wednesday launched their new sterling offerings amid growing instability in the market after Daisy, the UK telecom services supplier, pulled its deal last Friday. -
Investors showed signs of wilting under the torrent of callable bond structures as BNY Mellon, Goldman Sachs and Wells Fargo continued the rush by US banks to print bonds aimed at cutting the cost of complying with Total Loss Absorbing Capacity (TLAC) rules.
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Abu Dhabi airline Etihad Airways has launched a Schuldschein for €150m denominated in euros and dollars, the first ever for a Middle East borrower, according to one market participant.
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SNCF Réseau, the French rail provider, made its green bond debut on Thursday, becoming the first railway agency in the eurozone to access the green market.
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Jacobs Douwe Egberts rode the market repricing wave emphatically this week, increasing its new loan offering to €1.3bn and cutting margins on existing loans to just 225bp.
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Bank of China is gearing up for another milestone as it starts marketing China’s first green covered bond. While the structure of the dual recourse notes is unlikely to appeal to traditional covered bond investors, the trade underpins Beijing’s commitment to lead innovation in socially responsible financing. Lorraine Cushnie reports.
