Natixis

Acetow, the cigarette filter maker Blackstone is carving out of parent Solvay, has launched €630m-equivalent of loan facilities for the buyout, four months after it was announced.

A flurry of activity in the market for socially responsible investments shows no sign of letting up, with two borrowers set to make their debut next week and two more waiting in the wings.

Qatari residential property developer Ezdan managed to recover its credibility as a sukuk issuer on Wednesday, printing a $500m 2022 at a reasonable spread, after what one EM syndicate banker referred to as its “shambles” of a debut in May.

French industrial equipment lessor Loxam launched the financing backing its acquisition of Lavendon on Wednesday, an €850m three tranche high yield offering.

The Autonomous Community of Madrid has announced that it will sell its first ever sustainability bond, joining the flock of borrowers landing in the socially responsible investment (SRI) market as the first quarter of 2017 draws to a close.

Rating: Aa2/AA/AA

New deals marketed this week by US borrowers Owens-Illinois and Federal-Mogul pushed reverse Yankee issuance to 25% of the €22bn of euro high yield issuance so far in 2017.

SNCF Réseau on Wednesday printed at the upper end of its size expectations with its second ever green bond, while the International Finance Corporation looked at the possibility of printing in the green format over the next three months.

With public sector borrowers having reached advanced stages in their annual funding programmes as the first quarter comes to a close, focus is shifting to socially responsible bonds.

Volkswagen has returned to the public straight bond markets in its own name for the first time since September 2015, when it was swept from the market by its emissions test cheating scandal. Bond markets being what they are, a multi-billion euro blowout is likely.

The socially responsible bond pipeline ballooned on Tuesday, with a European supranational announcing a roadshow for a debut issue, a French agency mandating for a deal and a Washington supranational pricing a social bond in benchmark size for the first time.

Private equity firm Ardian has acquired a majority stake in Prosol Group, the parent company of Grand Frais, the French supermarket company.