NatWest Markets

Workspace Group, the UK office space company, sold its debut bond on Thursday, raising £300m using a green structure, as sustainability bankers say that ESG-linked debuts on the bond market are going to become more commonplace.

LondonMetric, the UK real estate investment trust, is marketing a private placement deal, according to market sources.

International Public Partnerships, a UK listed infrastructure investment company, has refinanced a £400m loan to extend the maturity and switch the margin from the Libor benchmark, as lenders hope that other borrowers do the same rather than cram into the second half of the year.

Italy took orders of over €80bn for its first green BTP on Wednesday to become the latest sovereign to enter the green bond market. Germany was also in market, raising €3bn with its first 15 year deal via auction.

Münchener Hypothekenbank (MunHyp) and the Bank of Ireland sold their first euro green bonds on Wednesday, offering up 2bp-3bp of new issue premium to do so.

Real Estate Investors, a UK commercial property REIT, has refinanced £51m of term loans, as the real estate sector continues to be one of the main drivers of European debt activity.

Italy picked the banks to lead its debut green bond on Tuesday after unveiling its sovereign green framework to investors last week.

KfW rebooted the short end of the euro public sector bond market on Tuesday with a well subscribed trade which offered a modest new issue premium. The deal shared the euro SSA market with the State of Baden-Württemberg’s debut green bond.

Hamburg Commercial Bank (HCB) returned to the senior preferred market for the first time in 21 months this week, extending its maturity curve as it works on finishing a multi-year transformation plan following its privatisation.

Four public sector borrowers announced new deals in the primary market on Monday ahead of the European Union’s much anticipated second transaction from its Support to mitigate Unemployment Risks in an Emergency programme this year, which is expected to arrive later in the week.

Workspace Group, the UK office space company, is marketing a green sterling bond as its debut in the public fixed income market, marking the second time a UK company has made this “very rare” choice in less than a year.

Bank of Nova Scotia returned to the dollar market with its first new trade in five months this week, after reporting its fiscal first quarter earnings. It was followed by Truist Financial selling an inaugural social bond.