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UK utilities switch on euros and sterling with green bonds
◆ Scottish Hydro tests long-dated sterling demand ◆ Tight pricing limits further tightening from guidance ◆ Cadent extends its euro curve with 10 year trade
◆ French bank returns after January amid scarcity for senior debt ◆ Investors like what they see as there is no book attrition ◆ Seven year tenor lures broader appetite
RWE builds sticky book for green dual trancher
◆ German utilities taps improving bond market ◆ Demand holds firm across six and 11 year tranches ◆ Fair value debated
Taking on a tyrant
How to go about the delicate business of dealing with bad behaviour from the boss
◆ French bank returns after January amid scarcity for senior debt ◆ Investors like what they see as there is no book attrition ◆ Seven year tenor lures broader appetite
Sub-sections
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◆ Pair of real estate borrowers print four euro tranches ◆ Vonovia draws strongest demand on shortest leg of €2bn three-part trade ◆ Realty Income pays small concession on €600m outing
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◆ Pair more than 3.5 times covered at final terms ◆ Suez lands flat, Air France pays up ◆ Airline paper performs in secondary
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◆ French utility returns a week after A$1.25bn debut ◆ Six year tranche pulls stronger demand than 12 year ◆ Both legs land close to fair value
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Head of funding Jochen Schader says strong promotional lending has pushed the 2026 target above €15bn, as the agency caps its dollar programme before the summer
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◆ BBVA opts for green five year bullet ◆ Pays concession for secondary performance ◆ Outperforms SNP supply from last week
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All as expected by the market, but lack of more details regarding bill issuance somewhat disappoints
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The world is watching full of hope as Joe Biden prepares to take the helm of the world’s most important economy. He has promised to act decisively on climate change, which must include financial reform. There is much worthy work to do — but four things would save Biden a lot of time.
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In early July, a cub reporter who had only left university the year before filed a story that would cause UK fast fashion company Boohoo’s share price to tumble.
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After four years of the US government noisily refusing to protect humanity from climate change and pushing back on responsible investing, sustainable finance supporters are full of hope that Joe Biden’s presidency will shift the US — and the world — in the right direction. Jon Hay reports
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Gaming company Wynn Macau benefitted from a revival in sentiment around the casino industry for its bond return on Tuesday. It raised $750m from a tap of its 5.625% 2028 notes.
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Adani International Container Terminal Private (AICTPL), part of India's Adani Group, sold its inaugural dollar bond on Monday. It raised $300m after receiving orders worth $2.85bn.
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European gas pipeline companies such as Snam and National Grid have succeeded in presenting themselves as environmentally progressive partly by not reporting the largest part of their carbon dioxide emissions, according to a report published this week. Meanwhile, different parts of the energy industry are competing for political support and capital, as Europe strives to cut its greenhouse gas emissions 55% by 2030.
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UK government can find direction by being determined on defence and green growth
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Growing company gets new bank lenders and equity investors
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Recently departed banker to resurface in Asia
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Five year bond set to be priced much tighter than the development bank's last senior issue
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International Finance Corp’s drive to introduce development finance to the CLO market is advancing. Its second deal of $509m had more investors, more tranches and better pricing, supporting its rapid growth
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Investors were eager to tender their bonds despite initial resistance
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Issuer asks for interest payment holiday, parent DigitalBridge likely to step in
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Credit quality of loans in CLO portfolios becomes increasingly important following the first CLO 2.0 liability impairment
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CLO mezzanine investors are paid high spreads precisely because impairments are a possibility
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US drug company Eli Lilly jolted the dollar market awake on Wednesday with an eight-part jumbo trade to fund two recent acquisitions
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The US dollar market buoyant this week despite escalating hostilities in the Middle East
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Redwood will be a repeat issuer
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Sponsored by Republic of Côte d’Ivoire
Bond Awards 2026: Most Impressive Issuer in Africa — Republic of Cote d’Ivoire / Most Impressive Funding Official in Africa — Lancine Diaby
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Sponsored by Crédit Agricole CIB
Syndicated Loan Awards 2025: Crédit Agricole CIB: Driving France’s loan market and ESG transition
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Sponsored by Islamic Development Bank (IsDB)
Sukuk market’s next chapter: Financing the future, sustainably
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