Santander

Soltec, a Spanish solar tracker company, has refinanced its main syndicated bank loan, almost doubling the size of its bank facilities four months after the company publicly listed.

EasyJet, the UK budget airline, avoided any turbulence on its return to the bond market on Wednesday, managing to land a €1.2bn deal with no new issue premium that was almost five times oversubscribed.

Financial institutions have ramped up their sales of green debt at the start of 2021, as they look to take advantage of a quiet funding year by building out their environment, social and governance frameworks. This week, nearly all FIG euro issuance arrived in ESG formats.

Easyjet, the UK budget airline, avoided any turbulence on its return to the bond market on Wednesday, managing to land a €1.2bn deal with no new issue premium that was almost five times oversubscribed.

Environment, social and governance (ESG) themed debt has dominated the senior market this week, with the format helping to secure more execution certainty in a softer trading environment.

Easyjet, the UK budget airline, has mandated for a seven year euro trade, as the company looks to fly high on the UK government’s plans to travel out of its coronavirus pandemic lockdown.

NatWest Group sold the first social housing bond from a UK financial issuer on Tuesday, attracting a highly granular peak order book of over €4.5bn. Investors have latched onto environment, social and governance (ESG) linked bank supply over the past few weeks, with two more labelled deals set to follow in the coming days.

Infrequent Nowegian borrower SpareBank 1 Østlandet is set to print its first green bond as it looks to extend its benchmark senior curve out to 2028.

Rating: Baa1/BBB/BBB-

This week was the busiest of the year so far for bank senior supply in euros, as issuers took advantage of strong market conditions after posting full year results.

The sustainability linked loan market hit two milestones this week with Anheuser-Busch InBev, the world’s biggest brewer, signing the largest ever revolver in the structure, and Carlyle Group making a similar claim for the US private equity market.

Intesa Sanpaolo launched a long awaited debut senior non-preferred deal on Wednesday. After having announced a large non-preferred funding programme last year, the bank has reduced its funding needs thanks to regulatory changes.