Search results for

Brazilian financial services firm XP opted for a five year maturity on its debut bond issue on Thursday, attracting $1.7bn of orders on the way to a $750m trade.

Accusations of greenwashing have been infrequent in the 14 year old green bond market, which mainly sticks to uncontroversial assets, such as renewable energy and railways. The sustainability-linked bond market is only a toddler, but already a much more difficult child. No wonder: it is handling tougher material.

The dollar corporate bond market continued to show its resilience this week, but concerns are growing over a lack of supply in the run-up to the July 4 holiday weekend.

Canada’s sustainability-linked bond market got under way this week, with a pair of deals that immediately showed this product’s capacity to attract a wide variety of issuers, to grab investors’ attention — and to provoke controversy. Jon Hay reports.

The Argentine province of Chaco wrapped up a debt restructuring on Thursday after more than 90% of its bondholders agreed to push out the maturity and reduce the coupon of its $250m 2024s. But the Province of Buenos Aires continued to frustrate bondholders, who said negotiations have stalled more than a year after the country’s largest regional government defaulted.

Wells Fargo hires Marriott from NatWest Markets — Créd Ag MD to join BNP Paribas SSA desk — SEB SSA DCM head off to New York — AFT hires funding official from Crédit Foncier — Citi promotes CEEMEA debt bankers — HSBC AM adds EM debt portfolio manager — EM seller heads from Credit Suisse to Barclays — Deutsche Bank hires head of US CLO syndication from JPM — Senior securitized product banker leaves Barclays — USSIM poaches BlackRock head of European ABS — Together treasurer departs for Pepper — Barclays poaches from JP Morgan for real estate IB push — Barclays hires from MS for head of Nordic banking

Three covered bonds issued this week from Korean Housing Finance Corp, Caffil and Oberbank were well received, but they would not have made it over the line without attractive new issue concessions.

Rating: A3/AA-/A

BNP Paribas printed its first green bond in dollars this week, as banks cranked out deals and activity nearly touched on last year’s pandemic-induced volumes.

Anadolu Efes, the Turkish brewer, returned to the market this week to issue a new bond and launch a tender for its dollar debt. Investors say it is one of the more attractive credits from the country, despite domestic economic volatility.

A smattering of smaller euro issuers made the most of an attractive window this week, as they looked to use the stable conditions to take “some risk off the table” ahead of the summer break.

All eyes in the public sector bond market are on the European Union as it prepares to bring its second Next Generation EU bond to the market next week, just a fortnight removed from its debut transaction under the NGEU programme. Lewis McLellan and Burhan Khadbai report.