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Swedbank outmanoeuvres hurdles to set sterling record for callable senior bail-in
◆ Issuer finds window between political volatility and supply onslaught ◆ Deal sets record low spread for callable sterling senior bail-in debt ◆ Investors remain on board despite tight price
◆ First IG corporate SLB of the year ◆ Deal lands at tight end of guidance ◆ Interest in SLB format on the slide
Mizuho suffers rough attrition on tight two-part bond
◆ Deal unaffected by Japanese macro volatility, lead said ◆ Aggressive pricing led to heavy long-end attrition ◆ Continuing trend of heavy supply for dual tranche holdco senior trades
Fluvius garners whopping demand for €650m green bond
◆ Belgian utility goes for 10 year paper ◆ Issuer set final size at guidance ◆ Deal skims through fair value
◆ First IG corporate SLB of the year ◆ Deal lands at tight end of guidance ◆ Interest in SLB format on the slide
Sub-sections
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Attractive pricing versus dollars luring GCC borrowers back to the single currency -
New product 'ticks boxes' including more investor diversification for Paris-based supranational, which also sold its largest Kangaroo
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◆ UK lender raises $4.5bn-equivalent in five senior holding company tranches this week ◆ Both deals target long dated funding ◆ Despite secondary widening, euro offering lands with hardly any premium
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◆ Insurance companies anchor long dated green tranche with near-4% yield ◆ Curve extension debated ◆ Deal comes amid widening secondary spreads but lands with negligible premium
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Newfoundland prints 20 year, Crédit Agricole debuts a green covered bond
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Sterling deal securitizes two data centres in Slough
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The reliability of Science-Based Targets — one of the most promising systems for helping companies decarbonise — has been questioned after RWE, the German power company, was excluded by Axa, the French insurance group, for being too wedded to coal, despite having an approved SBT.
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Investors have shunned carbon-intensive and sin sectors this month. The message is clear: if they want to raise capital, companies in dirty industries need to show they are making meaningful moves towards becoming socially and environmentally responsible.
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Hundreds of things happened this week in sustainable finance. That’s normal now — it’s become a fizzing, global market which is ever-present. Anyone who predicted, say, four years ago that sustainable finance would take over the whole capital market probably feels the outcome has exceeded their expectations.
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This week 35 investors with $8.5tr of assets — many of them UK and Nordic pension funds — launched the Net Zero Investment Framework, a primer for investors wanting to decarbonise their portfolios. Faith Ward, chair of the Institutional Investors’ Group on Climate Change, answers some key questions for GlobalCapital about why the Framework is important and how it will be implemented.
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HSBC has agreed to tighten its policies on climate transition and coal funding, in response to a shareholder motion calling on it to phase out fossil fuel financing. The move underlines the power investors have to accelerate change on environmental and social issues using shareholder votes, and could raise the bar for other banks.
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The prospect of investors exerting real pressure on companies to reduce greenhouse gas emissions, including divesting from big polluters, came a step closer on Wednesday with the release of the Net Zero Investment Framework, a map to guide investors on the journey to carbon neutrality.
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◆ Second ever bond for the issuer ◆ Deal marketed to both SSA and credit investors ◆ Offers potential for tightening on the back of southern European convergence trade
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BSTDB has had a tricky time since Russia attacked Ukraine, both of which are shareholders
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Commodities trader halves its stake for £132m after shares soar
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◆ Deal follows NextEra’s euro hybrid debut last year ◆ Eight year tranche draws the larger book ◆ More Reverse Yankee issuance expected to follow
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The familiar problem of inter-creditor opacity has also reappeared
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'Hard to classify' Italian corporate trade being marketed to FIG and SSA accounts
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Craig Coben examines whether it is true that no good deed goes unpunished
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Investors and bankers grapple with 24% fall in Bitcoin since deal was rated
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Investment banking travel was a relentless grind, not gold card access to global glamour
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Eight banks provided loan facility to company
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Vaccine bond programme to issue $1.5bn this year but needs new pledges
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First deal of its kind more than 1.5 times subscribed
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Sponsored by Islamic Development Bank (IsDB)
Sukuk market’s next chapter: Financing the future, sustainably
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Sponsored by CAF – Development Bank of Latin America and the Caribbean
CAF gearing up to transform regional development
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Sponsored by Emirates NBD Capital
Emirates NBD Capital: An unrivalled conduit for Middle East liquidity
