JP Morgan
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Enel, the Italian power and gas company that is the first, and only, issuer of bonds with sustainability-linked coupons, proved this week that the structure appeals to European green-minded investors, by raising €2.5bn at a spread several basis points tighter than it could have achieved with a normal bond. Jon Hay and Mike Turner report. -
A scorching week in the dollar market provided some $18.5bn of funding from issuers across the SSA spectrum. Maturities from three to 30 years were accessed, and each deal enjoyed strong demand and well-filled books.
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The European Bank for Reconstruction and Development and Ireland faced off in the euro green bond market on Thursday.
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Rating: Baa3/BBB/BBB
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Yankee banks took advantage of a strong market backdrop this week ahead of US third quarter earnings season, with Canadian banks leading the charge.
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After making a strong return to the dollar bond market for the first time since 2010, Italy aims to become a frequent issuer in the currency once again, according to the sovereign’s funding head.
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Kernel, a Ukrainian agricultural producer, hit the market on Thursday with a five year non-call three bond and raised $300m with a trade that bankers said was tricky to price.
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The International Development Association made a huge splash this week with its first euro benchmark. The supranational is aiming to carve out a large and diversified funding programme consisting of various currencies and private placements.
