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The palette of socially responsible investment bonds is expanding. Two borrowers made SRI debuts this week with a social inclusion bond and a sustainability bond, while a third has announced its intention to follow suit. -
A pair of European borrowers debuted socially responsible investment bonds on Monday, raising a combined €1.2bn, with one able to tighten its price by several basis points.
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A flurry of activity in the market for socially responsible investments shows no sign of letting up, with two borrowers set to make their debut next week and two more waiting in the wings.
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Athens-listed Motor Oil Hellas Corinth Refineries sold a sub-benchmark size note on Thursday, the second Greek corporate deal in the euro high yield market so far this year.
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Credit Bank of Moscow reopened the new style tier two market for Russian issuers in style on Wednesday with a $600m deal that was five times subscribed.
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Credit Bank of Moscow was on track to print its first Basel III compliant deal and had taken books of $1.7bn by Wednesday morning.
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The Autonomous Community of Madrid has announced that it will sell its first ever sustainability bond, joining the flock of borrowers landing in the socially responsible investment (SRI) market as the first quarter of 2017 draws to a close.
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South Korea’s KEB Hana Bank on Monday priced a $500m three year floating rate bond — its first after a merger — around theoretical fair value, with political turmoil in the country not denting investor sentiment.
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Russian Railways, a regular issuer in the bond market, has made a return to syndicated loans by signing a $420m club deal at the end of last week, according to a banker on the trade.
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KEB Hana Bank and Huantaihu International Investment Co ventured out to the dollar debt market on Monday morning, as 10 year US treasury yields slid to 2.37%.
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Banks were forced to pay higher new issue concessions to get deals done as concerns about President Donald Trump’s ability to deliver on his legislative agenda hit global markets.
