Société Générale

Sodexo has signed a revolving credit facility that has a margin linked to food waste reduction, as the French food services and facilities management firm joins a growing trend of corporates tweaking sustainability-linked deals to suit their characteristics.

Montenegro came to market on Thursday for its first ever 10 year bond. Demand for the euro deal proved strong enough for the issuer to raise €500m and allowed the leads to set the yield roughly flat to fair value.

Kazakhstan printed a €1.15bn dual tranche bond on Wednesday from a book of more than €3bn at its peak, at levels that lead managers said were 6bp inside the curve for the seven year and 4bp inside for the 15 year. Bankers away from the deal saw fair value differently but conceded that there could be different views on the calculation.

Taqa, the Abu Dhabi National Energy Co, is in the market on Thursday for its first 30 year bond since 2006.

Siberian Anthracite, the largest producer of anthracite coal in Russia, has closed a dual currency loan refinancing, adding a large euro chunk to its existing dollar debt. The deal points to a growing inclination towards euro funding among Russian borrowers in a bid to avoid operational and sanction-related obstacles, say bankers.

Malaysia's CIMB Bank used Taiwan’s Formosa market to sell a $680m bond linked to Sustainable Development Goals (SDG), giving the borrower a pricing advantage over the international debt market.

Commodities company Mercuria has returned for its annual outing to the syndicated loan market, and is seeking $1bn from a four-tranche borrowing.

GlobalCapital is pleased to announce the winners of this year’s Global Derivatives Awards. The winners were unveiled at a gala dinner at the Banking Hall in London on Wednesday night.

September has been a bumper month for equity-linked issuance in Europe, with over €3.7bn of new convertible bond sales, according to Dealogic data.

The Republic of Kazakhstan has impressively tightened initial price thoughts for a euro dual tranche seven and 15 year bond, but rivals are saying that the issuer started very wide. Bankers on the deal disagree.

Islamic Development Bank on Wednesday priced a five year sukuk bond, coming to market alongside Samba, a Saudi Arabia based bank. The deals are the latest in a flood of Middle East issuance that has raised $13.35bn this week alone.

Three borrowers from the Middle East came to market on Tuesday, raising a combined $3.35bn from five tranches across the curve. The deals come on top of a period of heavy supply, including Abu Dhabi’s $10bn triple trancher on Monday.