NatWest Markets
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LondonMetric, the listed UK real estate firm, has sold £380m of US private placements, according to market sources. One tranche had a green component, which priced tighter than another coupon with the same maturity. -
Rentenbank entered the deserted dollar bond market on Tuesday, printing $1.75bn of five year notes. The market has been quiet for public sector issuers in the past few weeks, thanks to a volatile Treasury market and an issuer base already well stocked with funding, but Rentenbank found investors receptive.
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King’s College university has sold US private placements, according to market sources, in the first widely marketed UK university deal seen in the market for 12 months.
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BPCE and HSBC paid a small concession to access the sterling senior market this week, but both were happy to do so. The French firm targeted diversification, while HSBC went for size.
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Europe’s high grade corporate bond market had a more relaxed pace on Thursday, though two issuers brought seven year green bonds: Italian railway company Ferrovie dello Stato and Neste, the unrated Finnish oil refiner which is transitioning to produce biofuels.
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High grade corporate bond investors were given the choice between a green trade from Finnish paper company UPM-Kymmene Corp and a conventional trade from UK cigarette maker Imperial Brands on Monday, with some investors passing up on the cigarette company on ESG grounds.
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BPCE returned to the public sterling market after a year away this week to issue the first offshore financial bond in about a fortnight.
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