JP Morgan
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Wednesday will be debut day in the green bond market, with Ireland preparing a 12 year inaugural euro benchmark and Société du Grand Paris (SGP) out with a 10 year that will also be its first bond issue of any kind. Both must contend with a market backdrop rife with Italian politics-driven turbulence, although SGP’s deal has so far had what one lead called “one of the strongest starts I’ve seen for a French issuer”. -
The UK Debt Management Office won big demand for a reopeing of its longest outstanding bond on Tuesday, with a final order book that was over five times covered.
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One of Europe’s major electricity producers, Portugal’s EDP sold its first green bond on Tuesday, aligning its fundraising with the company’s green principles.
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Gulf International Bank has cancelled a five year dollar bond that it began roadshowing at the end of September.
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The Development Bank of Mongolia is ready to return to the dollar bond market after a six year hiatus.
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Thai energy drinks manufacturer Osotspa has raised Bt15.1bn ($459.5m) from its IPO, taking advantage of a quiet market and its familiarity among investors to price at the top of the range.
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Saudi Arabia’s newfound zeal for international loans is testing some lenders’ credit limits for the country, as banks prepare to digest an up to $50bn financing for Saudi Aramco. Michael Turner reports.
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A sharp sell-off in US Treasuries after the release of stronger than expected US economic data has changed the landscape for dollar issuance. Ten year benchmarks could be possible, although one product investors would normally welcome in a rising rate environment — floating rate notes — is unlikely to make a big comeback.
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The Development Bank of Japan was able to tighten pricing on a €700m October 2025 sustainability bond this week, something not every issuer has found possible in the currency in the past few weeks. Meanwhile, the World Bank tapped an old friend for $200m with a green bond.
