Crédit Agricole

The European Investment Bank failed to impress market participants on Tuesday with an order book far smaller in size than usual for an Earn benchmark and no move in the spread after guidance.

Macquarie is set to extend its euro curve this week, after mandating banks for its third sale of group level debt in the currency in the last 18 months.

The spread benefit of ESG-linked debt was on clear display in Europe’s corporate bond market this week. For the second time in days, investors were offered two similar transactions and paid significantly more for the ESG option, in this case a green bond from Red Eléctrica.

A smattering of European investment grade companies are lining up bond issues, as May continues to bring the turnaround in issuance levels that the market had been hoping for in the run-up to the UK bank holiday at the start of the month.

Crédit Agricole has promoted four staffers to fill vacant and newly created positions in its debt capital markets leadership team, including global head of financial institutions DCM and head of European corporate DCM.

Crédit Agricole emphasised high levels of activity in syndicated loans and fixed income, especially among French clients, as it revealed a strong set of quarterly earnings on Friday.

Rating: Aaa/AAA/AAA

Erste Group Bank found success when it paired a sustainable label with the senior preferred format on Friday, attracting a high quality granular order book despite pricing several basis points through fair value.

The demand for sustainability-linked bonds was made clear on Thursday, as French minerals company Imerys’s deal commanded more than double the demand of Swedish property firm Sagax’s conventional trade, despite sharing big similarities.

Euronext, the Dutch-registered, Paris-headquartered stock exchanges group, brought a €1.8bn triple tranche bond issue on Thursday. Investors showed much larger appetite for the shortest maturity as inflation fears linger.

The European Investment Bank and the Nordic Investment Bank found decent demand as they brought the first public SSA dollar deals of the week on Thursday.

CDP Financial, one of Canada's largest public pension asset managers, has mandated banks to arrange calls with investors for its first green bond.