JP Morgan
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The Asian Infrastructure Investment Bank is planning its first foray into the Kanagroo bond market as it further diversifies its funding programme. -
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Gore Street Energy Storage Fund, the London-listed closed end investment fund focused on energy storage assets, has tapped equity capital markets for £135m to finance the company’s burgeoning pipeline of around 1.3gw of investment opportunities.
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Bank of America sold a floating rate note over the Bloomberg short-term bank yield index rather than Sofr this week, as Morgan Stanley added to the post earnings rush in dollars.
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BOC Aviation has sold a $750m bond through its US subsidiary, pricing its third dollar outing of the year at wider levels than some fair value estimates from analysts.
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Corporate bond issues came at a healthy clip in the US market this week, despite earnings blackouts, as investors showed a preference for highly rated paper.
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Bank of Cyprus and Nykredit, at opposite ends of the FIG ratings spectrum, issued tier two bonds over the last week and both found strong demand from investors for the extra spread the product offers over senior debt. But with bank capital ratios rising, there seems little appetite among other issuers to follow.
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Bpifrance will be holding calls with investors next week to introduce its new green bond framework ahead of a debut deal in the format with the proceeds to be focused on renewable energy projects.
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Iberdrola, the Spanish utility, and Clarion Housing, the UK housing association, became the latest companies to sign loans using risk-free rates instead of Libor, as more deals are signing that ditch the scandal-ridden benchmark from day one.
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Iberdrola, the Spanish utility, has signed a €2.5bn sustainability-linked loan, becoming the first Spanish company to use risk-free rates as a benchmark instead of Libor.
