GLOBALCAPITAL INTERNATIONAL LIMITED, a company

incorporated in England and Wales (company number 15236213),

having its registered office at 4 Bouverie Street, London, UK, EC4Y 8AX

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SRI

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IG corporates bring small benchmarks as market welcomes breather

◆ Smaller trades populate market after roaring week ◆ Air France KLM keeps hybrid momentum going ◆ Cencora and Icade bring no-grow bonds
◆ New deals expected to encourage other borrowers into euros and sterling ◆ Tight funder DNB shows spreads still a touch wider than pre-tariff volatility ◆ Lloyds' home foray underlines improved relative funding cost in sterling

Investors make their preferences clear in rare SBAB and Raiffeisen Croatia senior syndications

◆ Both banks issue their second ever euro deals in respective asset classes ◆ SBAB prints much tighter but also ends up with lower oversubscription ◆ Higher spread pick-up on the Croatian deal lures buyers as issuer's credit profile improves

Books pass $6.6bn for Masdar’s $1bn green dual trancher

The clean energy company has hit fair value
◆ New deals expected to encourage other borrowers into euros and sterling ◆ Tight funder DNB shows spreads still a touch wider than pre-tariff volatility ◆ Lloyds' home foray underlines improved relative funding cost in sterling
Sub-sections
  • Chuka Umunna has been appointed by JP Morgan to a newly created post of head of ESG for Europe, the Middle East and Africa.
  • SRI
    European financial regulators have bowed to pressure from investment firms and their trade bodies, and look set to weaken the requirements of the Sustainable Finance Disclosure Regulation, a central part of the EU's Sustainable Finance Action Plan.
  • SRI
    Companies with high carbon emissions are preparing for the risk that they could have to pay more to access capital markets, if investors and banks retreat from fossil fuel-heavy businesses, and even divest altogether — as Aviva has threatened to do. Some issuers will use investor relations drives and labelled financings, but ultimately they will have to find common ground with investors on how to transition to low carbon.
  • SRI
    In a rare sign that environmental campaigners are having an impact on the financial industry, the burden of financing the Ecuadorian Amazon oil trade has shifted between banks in the past six months. But it is clear the banking industry is supporting the trade in more ways than have yet been uncovered.
  • Adani Ports and Special Economic Zone managed to seal its $500m 10 year deal inside fair value on Tuesday, despite investor concerns about the company's environmental and social record.
  • SRI
    BlackRock wants to move a long way towards catching up with leading investors in its response to climate change, its CEO Larry Fink indicated in his annual letter to chief executives on Tuesday. BlackRock stopped short of setting a net zero carbon emissions target for its $8.7tr of assets under management, or committing to swift decarbonisation. But it did publish a ‘net zero commitment’ saying it would “support the goal of net zero emissions by 2050 or sooner”.