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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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Sustainable finance is bubbling with exciting new initiatives. But making people feel good is not enough. Activity needs to produce results, and so far there is more noise than movement. The tone is far too sedate — it needs some hard core activism to break the torpor. -
Kingspan, an Irish insulation company, has made a €700m offer for two units of Belgium’s Recticel, but will sell one of them if the deal goes ahead.
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More banks have joined the acquisition loan for the Triton consortium’s buy-out of UK-based satellite tech provider Inmarsat, ahead of Tuesday’s deadline to make a firm offer for the company.
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Metalloinvest, the Russian steel maker, has signed a sustainability-linked bilateral credit line with ING. It is one of the first sustainability-linked loans for a Russian borrower and comes as ING continues its drive to expand in this area.
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CWT International, a Hong Kong-listed subsidiary of cash-strapped HNA Group, has defaulted on a HK$1.4bn ($179m) loan.
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Enel and NextEra Energy have, on a pilot basis, become the first companies to obtain one of S&P Global’s new ESG Evaluations. The product, launched last week, takes S&P into direct competition with providers of ESG ratings like MSCI and Sustainalytics — and with Moody’s, which a few days after S&P’s launch acquired Vigeo Eiris, the French-based ESG rating firm.
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