JP Morgan

India’s Neerg Energy sold a $475m green bond on Monday — the second green dollar transaction from Asia this year. The deal introduced a new structure to the market, but investors’ concerns were allayed by the issuer’s robust credit story.

Bukit Makmur Mandiri Utama (Buma), which services Indonesia's coal industry, pulled in an impressive $2.2bn book for a $350m bond this week, after taking care to meet investors and address their concerns about its relationship with defaulted miner Berau Coal.

Brazilian mining giant Vale took advantage of a huge recovery in iron ore prices since Donald Trump won the US presidential election to tap its 2026s some 105bp inside where it first issued the bonds in August.

The market for public sector euro issuers is springing back to life after a quiet week, with two benchmarks printed on Monday and a sovereign dual tranche expected on Tuesday. But although traffic is returning, conditions are no longer as supportive as in January.

Shares in Banco Comercial Português rose as much as 9.3% on Monday after it announced late on Friday the successful completion of its €1.33bn rights issue to strengthen its core tier one capital ratio and finance the redemption of contingent convertible bonds owned by the Portuguese government.

Power companies were at the forefront of the international market on Monday, with India’s Neerg Energy and Indonesia’s Bukit Makmur Mandiri Utama launching high yield dollar deals.

The Green Bond Principles could be adapted to include clarification on the types of assets eligible for financing from the market, according to a sustainability consultant at Vigeo Eiris. The topic has grown in importance after France’s debut sovereign green bond last week included intangible assets among its use of proceeds.

The relentless rise in French government bond yields this year has started to disrupt demand for French covered bonds, a trend which will hold until at least May when the country’s presidential elections are over.

French agency Caisse des Dépôts et Consignations is set to follow its sovereign by bringing a debut green bond syndication in 2017, after hiring banks on Thursday to run a roadshow for the potential trade.

Parkdean Resorts accelerated commitments on its £575m ($722m) buyout seven year term loan ‘B’ this week alongside several issuers who came to reprice sterling deals, as more cash pours into non-CLO investment accounts.

Food producer Sigma Alimentos, a subsidiary of Mexican conglomerate Grupo Alfa, emerged with pricing for a seven year euro benchmark on Thursday morning.

Shares in UniCredit, Italy’s largest bank, closed 1.7% lower on Thursday after it unveiled the terms for its fully underwritten €13bn recapitalisation late on Wednesday.