Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
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◆ Hybrid bonds bid wider as govvies sell off ◆ EDF book holds firm earlier this week ◆ Some concession ensures healthy demand
More fully battery electric vehicle-backed deals are expected with similar loans expected to back a larger proportion of mainstream auto ABS
◆ Part of prefunding for 2027 ◆ Low-to-mid single digit NIP ◆ Green issuance has increased since last year
◆ ADB brings ‘impressive’ seven year ◆ NWB hits five year sweet spot ◆ Both deals tighten a large 3bp
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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.
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Orange, the French telecommunications company, has mandated for its debut sustainability bond, as some syndicate bankers said that there was evidence that demand for environmental and socially themed debt from corporates rated investment grade was reaching worrying levels.
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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.
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Caisse d’Amortissement de la Dette Sociale (Cades) has mandate a pair of banks to help it structure its new social bond programme.
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Investors rewarded Zhenro Properties Group for selling its first green bond this week, pumping orders into the $350m transaction and allowing the issuer to price the deal at its lowest coupon ever.
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Green bonds are becoming the rule, rather than the exception, for Europe’s sovereigns with two more debuts this week. Covid-19 has delayed others from entering the market but the instruments are now well and truly part of mainstream capital markets infrastructure and another country is even setting up for a sustainability bond.