Natixis
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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. -
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.
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BPCE incorporated a call option into one of its Samurai deals for the first time on Thursday, when it raised about $430m equivalent of non-preferred senior paper, including one social leg.
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Webuild, the Italian construction company formerly known as Salini Impregilo, has launched a refinancing of its €600m 2021 bond, after finally completing the takeover of stricken competitor Astaldi at the beginning of last month. The new tender offer is intended to finish a refi attempt started in January, which received lacklustre take-up.
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Crédit Agricole landed at an extremely tight level on Wednesday morning as it made its social bond debut with a seven year senior non-preferred deal, following in the footsteps of last week's near zero yield print from Svenska Handelsbanken.
