Natixis
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ING kicked off the financials market in euros on Monday, as the Dutch bank looked to extend out its callable curve at a holding company level, and with minimal new issue premia on offer, a slew of deals is set to follow. -
European banks passed a real-life stress test in 2020 as the coronavirus pandemic threatened to topple the economy. The experience has improved the standing of subordinated debt, which is becoming more important for issuers and investors alike. Frank Jackman reports.
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Klépierre, the French shopping mall company, has signed a €1.385bn sustainability-linked revolving credit facility, with the coronavirus pandemic-hit borrower pushing out its refinancing needs to March 2024.
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BPCE issued a transition bond this week to finance loans made by Natixis, its corporate and investment bank. The deal gave Natixis a chance to demonstrate the value of using a green weighting factor when allocating capital to new lending, as the mechanism helped the issuer select its assets and prove its own commitment to sustainability.
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Two Chinese borrowers, Beijing Construction Engineering Group and CPI Ronghe Financial Leasing, have closed syndication for their loans.
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The Kingdom of Morocco sold a triple-tranche dollar deal on Tuesday, which bankers say was a successful attempt to enter into a rarely tapped market upon investors’ requests.
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Alterea, the French property developer, attracted strong demand for its sub-benchmark bond issue on Tuesday, prompting bankers off the trade to praise its execution.
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The Kingdom of Morocco, a rare bond issuer at the best of times and an even rarer dollar-denominated issuer, entered the market on Tuesday to raise a triple-tranche dollar bond. The deal is the second from the North African sovereign in recent months.
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Credit Suisse this week launched its inaugural structured note with a green use of proceeds. Interest in ESG-linked issuance is growing, with an increasing number of retail clients looking to invest in the product.
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Beijing Construction Engineering Group has received strong response from the market for its second loan of the year. The $350m deal is expected to be signed before the end of December.
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Two banks landed tight with environmental, social and governance (ESG) themed deals this week: Crédit Agricole settled at a record low on its social bond debut, while DZ Bank came even tighter with its first senior non-preferred green bond.
