Crédit Agricole
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Buyers piled into a debut sustainability-linked bond from Italian oil major Eni on Monday, despite there being some pushback from investors over higher polluting issuers coming to the ESG markets. -
Industrial Bank has sold a dual-currency deal through its Hong Kong branch, becoming the first Chinese lender to print an offshore ‘carbon neutrality bond’. It relied heavily on support from a 42-member syndicate team, as well as its relative rarity in the international debt market, to nab around $922m.
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Europe’s corporate bond market has seen an influx of ESG deals from highly polluting sectors, testing how much environmentally and socially conscious investors buy into firms' transition stories.
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The sterling market has started June in the same way it finished May: busy. But investors are clearly stating a preference for yield, with demand for tier twos far outstripping the interest in senior unsecured deals.
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Crédit Agricole has named Ravi Nichani as head of acquisition finance and advisory for Asia Pacific, and leveraged and telecom finance group for Asia, effective in August.
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Crédit Agricole was nearly five times subscribed for a tier two in the sterling market on Wednesday, as investors showed they were hungry for the extra spread on offer through subordinated products.
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Aluminium producer China Hongqiao Group has raised $500m from a bond that appealed to investors for its ‘surprisingly generous’ premium on offer.
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Europe’s corporate bond market was again dominated by ESG trades on Tuesday but the influx of green and socially conscious deals in recent weeks means that investors have become increasingly picky about what they buy.
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Crédit Agricole has appointed a new head of sustainable banking for Asia Pacific.
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Prospects for companies to issue more social bonds rose this week, with the debut issue by Electricité de France, a borrower with a long and influential track record in the green bond market.
