The Sustainable Economy

  • Goldman creates sustainability council

    Goldman creates sustainability council

    Goldman Sachs is forming a Sustainable Solutions Council for its investment banking division, with four members for the Europe, Middle East and Africa region.

  • Calisen Group revives UK IPO market in 2020

    Calisen Group revives UK IPO market in 2020

    Calisen Group, the KKR-backed manufacturer of smart energy appliances, is preparing to raise £300m via an IPO on the London Stock Exchange, having announced its intention to float on Thursday.

  • ‘Almost perfect’ Orsted trade reopens EMEA ECM

    ‘Almost perfect’ Orsted trade reopens EMEA ECM

    A Dkr6.4bn (€856m) block of shares in Danish renewable energy firm Ørsted reopened the EMEA ECM market on Tuesday evening and attracted huge investor demand for the stock — including from ESG investors.

  • Xinyi Solar block fetches $231m

    Xinyi Solar block fetches $231m

    A group of shareholders in Xinyi Solar Holdings have bagged HK$1.79bn ($230.7m) after selling a block of shares in the company, according to a source familiar with the matter.

  • Solar ABS players see ITC step-down as potential boost

    Solar ABS players see ITC step-down as potential boost

    The solar Investment Tax Credit is set to step down and ultimately expire in two years — an expected but still disappointing development for the solar industry. Some, however, see the expiration of the ITC as a boon for solar securitization because it will do away with a complicated feature that has been a hurdle for issuers looking to market deals.

  • Panda Green pushes back distressed exchange deadline

    Panda Green pushes back distressed exchange deadline

    Chinese solar power operator Panda Green Energy Group has extended the deadline of a distressed exchange offer. The new note issuance will now be finalised in the same week that its $350m bond becomes due.

  • Commodities trader TrailStone signs green loan

    Commodities trader TrailStone signs green loan

    TrailStone Group, the gas and power trader and investor based in London, has closed the year with a €150m revolving credit facility, which complies with the Green Loan Principles.

  • Bailey seen as ‘safe’ leader for BofE, despite lack of monetary experience

    Bailey seen as ‘safe’ leader for BofE, despite lack of monetary experience

    Andrew Bailey is seen as a ‘safe pair of hands’ as the new governor of the Bank of England. But while he is a veteran of the bank, his views on monetary policy are not well known, as he has never served on the Monetary Policy Committee. In that respect, though a career central banker, he resembles Christine Lagarde, who has taken the helm at the European Central Bank.

  • Suriname 26s edge tighter on dam financing

    Suriname 26s edge tighter on dam financing

    Suriname’s outstanding 2026s traded up this week, after the government clinched $125m of short-term financing that includes coupon payment support for existing bonds and lays the ground for fiscal savings via an electricity reform.

  • Greencoat investors might have to wait for more equity raises

    Greencoat investors might have to wait for more equity raises

    Greencoat Capital, the investment manager of London listed funds Greencoat UK Wind and Greencoat Renewables plc, is eying a strong pipeline of acquisitions in the UK wind power market. However, green-hungry equity investors may have to wait a while before seeing further capital raises from the firm, its chief executive, Stephen Lilley, told GlobalCapital.

  • Leoking Environmental plans Hong Kong listing

    Leoking Environmental plans Hong Kong listing

    Environmental protection services provider Shenzhen Leoking Environmental Group has set the ball rolling for a Hong Kong listing, having filed draft documents with the bourse.

  • Suriname notches structured deal to fund dam handover

    Suriname notches structured deal to fund dam handover

    Despite its only previous outstanding bond trading at distressed levels and its president being sentenced to 20 years in jail for murder during the sale process, Suriname has managed to issue $125m of new amortising bonds that analysts say should be crucial for a proposed electricity reform.

  • The GlobalCapital debt capital markets survey: banks expect to make money and hire

    The GlobalCapital debt capital markets survey: banks expect to make money and hire

    Markets go into 2020 fretting about a global recession and an escalation of tradetensions between the US and China, according to 25 heads of debt capital markets in the EMEA market, in Toby Fildes’ annual outlook survey. Respondents are mildly pessimistic on spreads and fees in the primary markets as well. But on the plus side, bankers are feeling hopeful about sustainability-themed bonds and almost unanimously believe issuance will top $270bn.

  • Still waiting for the green leap forward

    Still waiting for the green leap forward

    Franklin Roosevelt’s New Deal helped pull the US out of the Great Depression. Climate change is a bigger crisis and requires a similarly total response. But is the European Commission being ambitious enough? And will politicians, business and society accept the changes required? Jon Hay reports