Société Générale
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KfW priced through its curve on Wednesday as it wrapped up its green bond programme for the year with a more than three times subscribed trade. -
Turkey passed its first test of investor sentiment on Tuesday night, returning to international capital markets with a $2bn five year deal after an absence of six months while the country had a brush with economic and diplomatic chaos.
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Bank Nederlandse Gemeenten and KfW mandated banks on Tuesday for euro issues at opposite ends of the curve.
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Turkey is in the market for a five year dollar benchmark — its first trip to international capital markets since it was plunged into financial crisis by US sanctions earlier this year.
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Investors could not get enough of Korea Expressway Corp’s (KEC) dollar bonds on Monday, as it closed its deal more than 12 times oversubscribed.
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Milanese pharmaceutical firm Recordati was out with its CVC buyout funding this week — a €1.3bn bond, in a European high yield market that has mostly ignored Italy’s political fights. But on Thursday, volatility went global and investors started pressing for concessions. Recordati went ahead regardless, and priced on guidance.
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Ireland this week added its name to the growing list of sovereign green bond issuers, achieving one of its main goals as it diversified its investor base. A debut French agency issuer joined the sovereign on Wednesday, printing its first ever deal — which also came from the first ever Green Euro Medium Term Note programme.
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Masdar, a Middle Eastern renewable energy company headquartered in the United Arab Emirates, has launched the region’s first green revolving credit facility, in a bid to fulfil sustainability goals and investments into clean technology.
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One of Europe’s major electricity producers, Portugal’s EDP, sold its first green bond on Tuesday, aligning its fundraising with the company’s green principles. Meanwhile, Dutch airport owner and operator Royal Schiphol Group announced plans for its debut green bond. Both followed French vehicle leasing company ALD’s inaugural green bond.
