◆ €500m 4NC3 EuGB deal priced inside fair value ◆ Greenium helps tighten spreads amid strong demand ◆ Landmark trade cements bank's ESG leadership, says treasurer

◆ Austrian lender completes its tightest unsecured debt since the start of war in Ukraine… ◆ …as BPM achieves its lowest ever senior spread ◆ High attrition function of premium and outright spread

◆ Issuer finds window between political volatility and supply onslaught ◆ Deal sets record low spread for callable sterling senior bail-in debt ◆ Investors remain on board despite tight price

◆ Deal unaffected by Japanese macro volatility, lead said ◆ Aggressive pricing led to heavy long-end attrition ◆ Continuing trend of heavy supply for dual tranche holdco senior trades

◆ Belgian utility goes for 10 year paper ◆ Issuer set final size at guidance ◆ Deal skims through fair value

◆ First IG corporate SLB of the year ◆ Deal lands at tight end of guidance ◆ Interest in SLB format on the slide

Belarus this week gave investors a chance to demonstrate the ESG credentials they are often so keen to trumpet. Few took it. Although the country’s sovereign bonds sold off in the wake of the controversial arrest of a journalist on Sunday, investors gave a number of reasons why issues such as human rights violations were no deterrent to buying an issuer’s bonds. But there are signs those excuses may not hold up for ever, writes Mariam Meskin.

Inside the office of Spondoolicks Emerging Market Bond Fund, May 24.

A Dutch court has ruled that Royal Dutch Shell is partly responsible for climate change and must reduce its global carbon emissions — including those caused when customers burn its products — by 45% from 2019 levels by 2030. If the ruling is sustained on appeal it would cause a seismic shift in the balance of power on climate change, with huge implications for financial markets.

Following the international outcry over the forced landing of a Ryanair passenger plane carrying a Belarusian dissident, some emerging markets investors are said to have had sudden doubts about the ESG characteristics of Belarusian sovereign bonds. What took them so long?

Deutsche Bank held a three hour “deepdive” into its sustainability actions for clients, investors, the press and NGOs last week, with its CEO Christian Sewing and all its business heads. It coincided with an array of announcements, which even earned a favourable comment from Moody’s, including that Deutsche is accelerating its €200bn sustainable financing target. But those hoping for more detail on how Deutsche will decarbonise its financing were disappointed.

Taylor Maritime Investments, a new investment trust, has priced its IPO on the London Stock Exchange, raising $253.7m to invest in a portfolio of ships.

◆ Second ever bond for the issuer ◆ Deal marketed to both SSA and credit investors ◆ Offers potential for tightening on the back of southern European convergence trade

BSTDB has had a tricky time since Russia attacked Ukraine, both of which are shareholders

Commodities trader halves its stake for £132m after shares soar

◆ Deal follows NextEra’s euro hybrid debut last year ◆ Eight year tranche draws the larger book ◆ More Reverse Yankee issuance expected to follow

The familiar problem of inter-creditor opacity has also reappeared

'Hard to classify' Italian corporate trade being marketed to FIG and SSA accounts

Craig Coben examines whether it is true that no good deed goes unpunished

Investors and bankers grapple with 24% fall in Bitcoin since deal was rated

Investment banking travel was a relentless grind, not gold card access to global glamour

Eight banks provided loan facility to company

Vaccine bond programme to issue $1.5bn this year but needs new pledges

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