NatWest Markets

Royal Schiphol, the Dutch airport, brought a dual tranche conventional and green trade with a small to flat new issue premium on Tuesday, as even issuers in sectors worst hit by the pandemic show it’s possible to garner more investor interest by linking their debt to environmentally conscious uses.

Sweden’s long gestating green bond debut came to fruition this week as the sovereign scooped Skr20bn ($2.3bn) at a discount to its conventional curve.

Mediobanca was able to attract demand seven times the size of its new €500m senior bond on Tuesday, which was its debut green deal. The high demand allowed the issuer to launch with a negative new issue premium based on its conventional curve.

Following a series of investor calls, Sweden has announced the tenor of its debut green bond, which is expected to be issued early next week through syndication.

Oil and gas companies are facing the daunting prospect of the world weaning itself off fossil fuels. And this is sparking intense discussions with banks and investors, as these businesses consider how to preserve their access to capital markets.

Supply and demand for senior financial institution bonds was lukewarm this week, as issuers and investors favoured higher yielding products amid healthy market conditions. FIG deal arrangers are predicting that the trend is set to continue and that issuers will favour capital trades.

Mediobanca has been speaking with a 'high' number of investors in the euro market this week, as it gears up to sell the first ever deal from its green and sustainable bond programme.

Communauté Française de Belgique returned in mid-August after a seventh month absence to print a slew of deals for a combined €404m, according to Dealogic.

Sweden began a series of calls with investors on Wednesday as it prepares to issue its highly anticipated inaugural green bond through syndication later this month.

Great Portland Estates, the UK real estate investment trust, has sold £150m of US private placements.

Housing 21 became the latest UK housing association to receive a strong reception from investors on Friday as it priced a long-dated sterling tap with a book almost three times covered and a negligible new issue concession.

Housing 21, a UK housing association, is looking to tap its November 2049 notes for an expected £100m, as bond market participants say that the Covid-19 economic crisis has made housing associations an attractive option for high grade sterling investment.