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Deal refinances €1.5bn transaction from 2022 while providing new money and is sustainability-linked
Volumes and deals similar to last year, when the market grew by 13% year-on-year to an annual record
The German toy production company doubled the size of its RCF but maintained its banking consortium
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GlobalCapital is conducting a global research survey on the fast-changing markets for sustainable financing and investing. It will combine the views of issuers and investors to give a nuanced picture of how this trend is changing capital markets for both groups. -
Crossover credit Nokia is the latest borrower to switch its bank debt to a sustainability-linked margin, with the Finnish phone company also lengthening the tenor of its revolving credit lines.
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Turkey’s banks, renowned for their resilience as borrowers to market shocks, risk paying wider margins when they refinance debt later this year, according to some bankers. The dismal outlook follows Moody’s recent downgrade of Turkey’s sovereign debt and 18 of its banks.
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India’s IndusInd Bank is paying up for its latest loan, after an aggressive price cut for its previous fundraising in 2018.
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Four major announcements have been made today by the European Commission and its Technical Expert Group, which is drafting the substance of several parts of its multi-faceted Sustainable Finance Action Plan. There were new texts on the Taxonomy, Green Bond Standard and Low Carbon Benchmarks regulations as well as guidelines for companies on how to report climate change-related information. Many market participants welcomed them.
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ICBC has mandated banks to arrange an up to $400m-equivalent green loan for its London branch, in what the borrower has labelled the first ever deal for a Chinese bank that follows the Green Loan Principles.
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