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'Hard to classify' Italian corporate trade being marketed to FIG and SSA accounts
BMW heiress Susanne Klatten exits turbine maker
Development bank's credit ratings suffered a blow after Russia's invasion of Ukraine
Another defaulter, Argentina, likely to tap market this year
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The UK’s monetary policy will officially be designed to fight climate change from now on, after chancellor of the exchequer Rishi Sunak changed the Bank of England’s mandate this week, delighting sustainable finance campaigners. -
Senior market participants welcomed the announcement of the UK Infrastructure Bank’s creation in this week’s Budget speech. While it is unlikely to tap capital markets in the near future, bankers hope the bank will evolve into a major government agency borrower that prints socially responsible bonds to help in the UK’s goal to reach net zero carbon emissions by 2050.
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The railcar securitization market has comfortably exceeded last year’s issuance volume already with the addition of Napier Park, a New York based alternative asset management platform. Bolstered by strong investor appetite for yieldy paper, railcar ABS deals will continue to be well subscribed and in high demand, sources say.
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The UK’s Budget on Wednesday is likely to go down as the greenest ever, but it still left sustainable finance advocates disappointed, as Rishi Sunak, the chancellor of the exchequer, failed to give clarity on vital programmes and spending, at the beginning of a decade in which the country will have to make vital investments towards achieving its ambition of net zero greenhouse gas emissions by 2050.
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US residential solar company Solar Mosaic is returning with a securitization backed by a pool of prime consumer loans. The issuer surpassed $4bn in loans funded through its platform in February, and hopes to continue pushing the solar asset class into the mainstream.
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EDP Renováveis, the Portuguese renewable energy company, priced a €1.5bn capital increase on Tuesday night. The trade will help the company fund expansion and attracted strong demand, but it had to offer a big discount as fears over rising bond yields continued to cast a shadow over the sector.
