ING
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The dollar market showed its appetite for diversity this week as Société Générale printed the first 30 year tier two bullet by a French bank and ING printed its debut green bond.
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Financial institutions were left wondering how low green bond spreads could go this week, after Société Générale and ING Bank both priced very well subscribed deals virtually flat to their senior curves. Tyler Davies reports.
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A trio of issuers from Finland and Sweden raised €3.5bn of funding in the covered bond market this week with strong receptions and limited spread concessions.
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Green bonds are finally beginning to take hold among commercial banks, which could end up being the product’s main issuers.
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Société Générale launched a €500m no-grow five year green bond on Wednesday, following ING Bank’s lead yesterday and landing near flat to its regular senior curve.
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Financial institutions have begun a final push for funding as year-end approaches, with investors still looking to boost returns with higher beta purchases.
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Investor demand for Asian debt was put to the test this week when Singapore's Stats ChipPac executed the region’s first non-Chinese high yield bond in more than three months.
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ING Bank was able to price its debut euro green bond inside its regular senior curve on Tuesday, with bankers estimating a very slim premium for the well subscribed trade.
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Asia’s debt market saw a busy Tuesday with a trio of issuers, SP PowerAssets, Stats ChipPac and TUS Holdings, venturing out for dollars.
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The International Swaps and Derivatives Association’s (ISDA) protocol to allow regulators to temporarily stay contract close-outs now covers an estimated $560bn of cross-border securities financing.
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Anheuser-Busch InBev, the Belgian-Brazilian brewer, mandated a group of 21 banks to provide its $75bn loan facility, but there was no coordinator as AB InBev took an active role in arranging the transaction.
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Russian Copper Company has signed a $200m four year pre-export finance facility with European and Russian banks.