Morgan Stanley

Evidence is mounting that Enel’s $1.5bn sustainability-linked bond, issued last Thursday, introduced not just a new product, but a new market. In recent days the deal has generated intense interest, and Enel has committed to using the product extensively in future, writes Jon Hay.

KfW and the Asian Development Bank won huge praise from SSA bankers with rare 10 year dollar trades this week. The former issued the largest ever dollar green from a public sector borrower.

Several participants familiar with the London Stock Exchange Group's (LSEG) bid to buy Refinitiv are unimpressed by Hong Kong Exchanges and Clearing's (HKEX) £31.6bn bid for the LSEG itself and believe it unlikely to tempt shareholders. Silas Brown and Karoliina Liimatainen report.

The IPO of TeamViewer, the German software company, is proving popular with investors. The books are covered throughout the price range, after less than a day of bookbuilding.

The UK Debt Management Office (DMO) raised £4bn after it reopened its 2054 Gilt this week with market participants signalling their preference for the maturity rather than even longer maturities, said chief executive Robert Stheeman.

In the nervous last day before the European Central Bank's much-hyped monetary policy announcement on Thursday, only two corporate bond issuers brought deals. Both Orange, the French telecoms group, and Worldline, the French payments group carved out of Atos.

Investment grade corporate bond issuance has slowed right down on Wednesday, as issuers and investors are getting cautious before the European Central Bank monetary policy meeting on Thursday.

Thai real estate owner and developer Asset World Corp has hit the market with a Bt41.7bn ($1.36bn) IPO, set to be the country’s largest listing by a private company, according to a term sheet seen by GlobalCapital Asia.

Chinese issuers Country Garden Holdings Co, Guangxi Communications Investment Group Corp and Shuifa Group, all of which have investment-grade ratings, have sold well-supported dollar bonds to investors.

The sustainability-linked bond issued by Enel on Thursday opens a new chapter in the green finance market. Anyone tempted to think this will be a freak should think again. The idea is sure to catch on.

The UK Debt Management (DMO) and European Investment Bank reopened a quiet sterling market on Tuesday with a pair of syndicated taps, which bankers feel will leave issuers and investors "confident" to follow.

KfW won huge praise from on-looking bankers for a curve extending and rare 10 year dollar green bond on Tuesday. The Inter-American Development Bank (IADB) and Österreichische Kontrollbank (OeKB) also enjoyed success in the dollar primary market with three year trades, with the former selling its debut Sofr-linked floating rate note.