JP Morgan
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French agency Cades and the International Development Association returned to the dollar market for the first time since the summer break on Tuesday to bring a pair of five year socially responsible deals.
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Rentenbank impressed SSA bankers on Tuesday as rolled out its debut benchmark green bond. The deal is expected to pay no new issue premium at the final spread.
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Altice France is marketing a €900m equivalent eight year bond across dollars and euros, coming hot on the heels of Friday’s announcement that Patrick Drahi, the billionaire owner of the telecoms group, was trying to take Altice Europe private.
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US companies visited the euro bond market on Monday, with multi-tranche issues from drinks company Coca-Cola and real estate investment trust Digital Realty, which brought a rare floating rate note in euros.
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French agency Cades will debut its social bond framework in dollars on Tuesday, less than a week after it raised the largest ever bond in the format with its inaugural issue in euros. It will share the market with the International Development Association (IDA), which is preparing to kick off its 2020/21 funding year with a sustainable development benchmark of its own.
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Rentenbank is moving forward with its plans to issue a debut euro green benchmark bond following a series of investor meetings over the past few weeks.
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Burberry, the UK fashion house, was bang on trend on Monday with its debut bond in sterling, showing that rampant demand exists across currencies for sustainability-themed debt.
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Coventry Building Society was unable to tighten its pricing for a new senior bond in the sterling market on Monday, as UK credit spreads widened on the back of the latest Brexit developments.
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Munich Re and Unipol Group are lining up new green bond transactions for this week, as they look to replicate the success of similar deals and gain a ‘pricing advantage’ in the market.
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The Republic of Bulgaria has mandated banks to arrange a dual tranche bond in euros, making it the latest sovereign to add to the swelling supply from the central and eastern European (CEE) region.
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US-listed Zai Lab and ZTO Express (Cayman) are set to launch secondary offerings in Hong Kong. Both the companies filed their final listing documents with the city’s bourse.
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Virtual goods platform Fulu Holdings has raised HK$890m ($114.8m) after pricing its IPO at the top of the marketed range, according to a source close to the deal.