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KKR prices $475m green securitization of Icona campus in San Francisco

Green securitizations have been prominent in CMBS this year
◆ US-Iran ceasefire lifts market sentiment ◆ Hochtief, Verbund draw strong demand in the belly of the curve ◆ SoftBank, Naver, General Mills join swelling pipeline

CEB seizes good window for social inclusion landmark

◆ Nine years, 10 social inclusion euro bonds issued ◆ Social 'leadership' demonstrated with new deal ◆ Minimal premium paid, but fair value a 'challenge'

General Mills and Engie turn up heat in corporate hybrid market

◆ General Mills debuts €1.7bn Reverse Yankee hybrids ◆ Engie raises €2.06bn-equivalent across euros and sterling ◆ Sub/senior spreads stay modest on Engie's euro tranches
◆ US-Iran ceasefire lifts market sentiment ◆ Hochtief, Verbund draw strong demand in the belly of the curve ◆ SoftBank, Naver, General Mills join swelling pipeline
Sub-sections
  • Calisen, the UK operator of smart meters which has completed the first major European IPO of the year, was trading above issue price on Thursday, to the relief of sources close to the trade after early selling dampened its stock market debut.
  • SRI
    Two milestones were passed on Wednesday, in the financial sector’s recognition of the reality of climate change — BP, the oil and gas group, revealed a new “net zero” strategy, and the Task Force on Climate-Related Financial Disclosures announced it had 1,000 supporters. But how much impact these moves have will depend on future actions.
  • SDCL Energy Efficiency Income Trust (SEEIT), the London-listed investment trust that focuses on investment in energy efficiency, is targeting ambitious growth in 2020. Its CEO talks GlobalCapital through its plans.
  • Natixis, one of the investment banks that has gone furthest to prioritise greener financing, had to ramp up its provisions for credit loss from US natural gas producers in the fourth quarter, pointing to “structural transformation” in the sector. But it told GlobalCapital that it still saw opportunity in the industry.
  • The IPO of Calisen Group, the UK operator of smart meters, is due to be priced at 240p a share according to final messages from boorkunners, slightly below the midpoint of the 225p-265p initial range, valuing the company at £1.29bn.
  • Blank cheque firm Citic Capital Acquisition Corp has kicked off bookbuilding for a $200m IPO. The special purpose acquisition company (Spac) is targeting green investments.