Natixis

Hopes that the recovery from the Covid-19 recession can be a green one have been widespread throughout the crisis, and no sector is more important to that aspiration than renewable energy. The industry as a whole has been well buffered from the downturn, but there are points of pain, and the post-pandemic market will be different.

Kommunalbanken snagged NZ$500m ($324.5m) on Friday with the second largest Kauri bond of the year. Interest in the New Zealand dollar is high, with NZ$1.1bn worth of SSA Kauri deals printed so far this month — and more are set to follow.

Kenneth Lee, a veteran in Asia’s bond market, has left Natixis to take a new job at Mizuho.

Banco de Sabadell proved very popular with a short-dated euro senior deal this week, after issuing in an unusual three year non-call two maturity structure.

Europe’s corporate bond market burst into life on Tuesday with more than 10 primary deals on screens, as the US Federal Reserve’s plans to buy individual bonds brushed aside fears of a resurgence of Covid-19.

La Mondiale took advantage of a sudden improvement in market conditions this week to strengthen its capital structure with the sale of a new tier two. The French insurer was able to launch its deal 5bp through fair value.

The Islamic Development Bank (IsDB) has mandated for a sustainability sukuk, half a year after making its socially responsible investment debut with a green bond. It will use the proceeds to support Covid-19 relief efforts.

UniCredit jumped into the euro market to raise senior funding at a pricing level it found much more familiar than recent elevated levels this week, while BPER Banca gave investors their first chance in several months to buy a new issue from a second tier Italian bank.

Conditions in the financial institutions bond market worsened this week but plenty of senior and subordinated bonds still got away. With credit spreads unpredictable, the supply outlook remains favourable, said bankers.

NatWest Markets names CEO and CFO — Natixis appoints new managers for UK and Middle East — Barclays' private capital markets boss leaves

Unédic, the French unemployment agency, raised €4bn on Wednesday with a November 2029 social bond — its third under its new funding programme, which consists entirely of social bonds.

Simon Eedle has been named senior country manager for the UK at Natixis’s corporate and investment bank. Barbara Riccardi steps into his old position as regional head for the Middle East.