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CEB plunges into Sofr FRNs with $500m debut

New product 'ticks boxes' including more investor diversification for Paris-based supranational, which also sold its largest Kangaroo
SSA
Newfoundland prints 20 year, Crédit Agricole debuts a green covered bond

Lloyds lifts green senior euros after Yankee foray

◆ UK lender raises $4.5bn-equivalent in five senior holding company tranches this week ◆ Both deals target long dated funding ◆ Despite secondary widening, euro offering lands with hardly any premium

Crédit Agricole differentiates from competition with 'untested' 12 year SNP bullet

◆ Insurance companies anchor long dated green tranche with near-4% yield ◆ Curve extension debated ◆ Deal comes amid widening secondary spreads but lands with negligible premium
SSA
Newfoundland prints 20 year, Crédit Agricole debuts a green covered bond
Sub-sections
  • An uneven economic recovery is expected across emerging and developed markets over the next year, the IMF said this week during its spring meetings. Meanwhile, a proposed boost to special drawing rights has split market opinion.
  • The announcement this week that the IMF is on its way to issuing a further $650bn of special drawing rights, providing central banks with extra foreign currency liquidity, should not be criticised for being too little, too late. It marks a much needed return to multilateralism, something that the developing world will benefit from.
  • Organon, the spin-off from US pharma company Merck, has launched a bond leg of its financing, which will establish the unit as a separate firm with its own capital structure, while funding a $9bn dividend to its former parent. The firm was initially offering $4.5bn-equivalent across secured and unsecured bonds, with a bias to the deeper dollar market, but scaled this up during syndication to allow it to strip out bank debt.