Société Générale

Europe’s high grade corporate issuers are increasingly dipping their toes into sustainability bonds, with telecoms company Orange and fashion house Burberry bringing debut deals.

Caisse d’Amortissement de la Dette Sociale (Cades) made an impressive debut in the social bond market on Wednesday with the biggest ever deal in the format by any issuer, overtaking the previous record set by Unédic earlier in the year.

Singapore’s United Overseas Bank has bagged the lowest yield globally for a Basel-III compliant tier two dollar bond, breaking the record set by its peer Oversea-Chinese Banking Corp just last week.

As Caisse des Dépôts et Consignations (CDC) returned to the sustainability bond market on Tuesday to sell its second bond in the format, fellow French agency Caisse d’Amortissement de la Dette Sociale (Cades) mandated for its own sustainability bond debut.

French agency Caisse des Dépôts et Consignations (CDC) hit screens on Monday afternoon with its second ever sustainability bond, following its debut in the format last year.

The Grand Duchy of Luxembourg launched Europe’s first sovereign sustainability bond to big demand on Monday morning, allowing the sovereign to bring the spread in by 6bp during pricing.

Singaporean commodities company Mercuria has returned to the offshore loan market for its annual foray.

Indonesian oil and natural gas company Pertamina has shortlisted six banks for a bridge loan of as much as $3bn to support its acquisition of energy assets.

Europe’s high grade corporate market continued to offer plenty of demand for riskier structures this week, with multiple hybrids again taking up screen space.

Norilsk Nickel, the Russian metal and mining company, was set to issue a benchmark dollar bond on Thursday evening, just months after it was found responsible for a series of major diesel spills.

The top investment banks will achieve substantially higher returns on equity this year, predicts analytics firm Coalition, after revenues in fixed income, currencies and commodities (FICC) soared in the first half of the year.

Merck, the US pharmaceutical company, launched a chunky €1bn hybrid on Wednesday, as syndicate bankers said they expect even more subordinated corporate debt despite the flurry since returning from the summer break.