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◆ German utilities taps improving bond market ◆ Demand holds firm across six and 11 year tranches ◆ Fair value debated
Deutsche Pfandbriefbank returns to senior after exiting US market
◆ First unsecured deal in 10 months ◆ Spread on offer ◆ PBB looking to make net profit this year following 2025 net loss
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
◆ German utilities taps improving bond market ◆ Demand holds firm across six and 11 year tranches ◆ Fair value debated
Sub-sections
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◆ 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 -
◆ 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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Equity investors are losing their appetite for oil and gas stocks, just at a time when three of the biggest IPOs being planned in EMEA are from that sector. The coronavirus outbreak is sapping Chinese demand, leading to a weak oil price. But some bankers believe investors are also making a more fundamental shift away from fossil fuels, which could even lead to a permanent tipping point. Sam Kerr and Jon Hay report.
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Lyxor has launched a suite of environmental, social and governance high yield exchange-traded funds, following BlackRock’s iShares into the burgeoning market for investment products screened for sustainability. The French firm switched its investment grade ETF to follow a sustainable index last year, but opted to create a new product line for high yield.
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High yield is mostly in a hiatus, with issuers waiting for full year numbers before pushing back into the market. Only UK broadband company TalkTalk is issuing this week, offering a rare slug of sterling supply to a market that has been euro-dominated for most of the year. For the corners of the loan market without such problems, though, there is still a bid, even for credits with stories.
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Sustainable finance players are enthusiastic about regulation, which they expect to bring clarity and order to the market. It may — though when the new EU rules are implemented they are likely to irk participants more than they expect. But what would be really effective are direct actions that bypass finance.
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Eurex is pushing its environmental, social and governance (ESG) derivatives offering to cover the US, as it works to build a global market in the new futures.
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The European securities regulator will start to probe sustainable finance, looking for risks including greenwashing and climate risks, and may use stress tests in some market segments. Green finance experts welcomed the new Strategy on Sustainable Finance put out by the European Securities and Markets Authority on Thursday as a step towards fully integrating environmental, social and governance issues into financial regulation.
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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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How to go about the delicate business of dealing with bad behaviour from the boss
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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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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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