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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
Divisions deepen over multilateral development banks’ climate commitments
Deal rules and slow primary market make ramping up deals difficult
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Singapore’s Frasers Property has closed a S$785m ($581m) green loan, the second green borrowing in six months. -
Bestway Global Holding this week became the latest Chinese debutante to find the offshore loan market tough going, falling short of its intended deal size. Debut names will face worse market access this year and will need to rely upon guarantees, onshore banking relationships and the reputation of their industry sector to have the best chance of securing international money, writes Pan Yue.
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Ghana Cocoa Board has signed its first sustainability-linked loan facility, kick-starting this year’s environmental, social and governance financing in emerging markets. The deal emerges as a trio of global trade bodies have launched a set of standards to codify this fast-growing market segment, which some financiers are still trying to come to terms with. Mariam Meskin and Mike Turner report.
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Continental launched a Schuldschein on Wednesday and, judging by the arranging banks, market participants believe the German tyres and car parts group has its eye on German co-operative and savings bank investors.
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A trio of global loan trade bodies has launched the Sustainability-Linked Loan Principles, intended to codify the rapidly growing market of bank facilities with margins tied to how the borrower performs under sustainability metrics.
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Bankers and investors are running out of superlatives to describe investor demand in Europe’s corporate bond market, as each deal seems to push further than the last into extreme territory.
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