ING

The much sought after trend for green bonds to outperform conventional paper in secondary trading is now a reality, according to public sector borrowers — but perhaps only for those with enough dots on their green curves to provide a comparison.

Asia’s green finance story is not just about China and India. Although the US has threatened to pull out of the Paris Agreement, southeast Asia has reiterated its commitment to sustainability. As Morgan Davis reports, that is beginning to be felt in its financial markets, where countries such as Malaysia, Singapore and Indonesia are exploring ways to foster green financing.

Automotive finance companies rarely issue corporate bonds with tenors longer than four or five years, due to the assets they need to fund. This week, however, three of them sold five year bonds.

ING is planning to bring on a director of leveraged capital markets from Société Générale early next year.

Henrik Ljungstrom has left his role on ING's loan syndicate and sales team after almost three years.

US machinery manufacturer, John Deere, returned to the euro corporate bond market on Tuesday, selling its second deal in September. The €500m five year deal was issued by the company’s John Deere Bank entity.

Hungary is set to take advantage of lower rates in euros to buy back its more expensive outstanding dollar debt.

Montea, the Belgian real estate investment trust focused on logistics warehouses, has raised €68m, after its one for six rights issue was 91% subscribed, and a rump sale disposed of the rest this morning.

Canadian car parts maker Magna International and French property company Gecina both priced 10 year deals in the European corporate bond market this week. Magna had waited two years since its last euro issue, Gecina just three months.

Spanish gas distribution company NorteGas Energía Distribución was the only investment grade corporate bond issuer in the euro corporate bond market on Thursday. Its debut deal was a €1.3bn five year and 10 year dual tranche offering with order books totalling €5.4bn.

Stada Arzneimittel, the German pharmaceuticals firm being bought in a €5.3bn deal by Bain Capital and Cinven, opened a bond roadshow on Monday after marketing €2bn of leveraged loans last week .

Financial bond market participants are set to end the week with nearly as many new issue mandates as priced deals, as appealing market conditions in September have prompted banks to test investor appetite in a variety of bond formats. Aktia, a small Finnish bank, was the latest to throw its hat into the ring.