City Electrical Factors, a UK electrical wholesale network, has agreed on a £150m five-year secured credit facility. Wells Fargo served as sole lender, as the bank looks to expand its loan book in Europe.
The Schuldschein market is counting on a late summer pick-up in issuance to make up for a barren first half of the year. If deals do not pick up, the market could reach only €14bn of issuance in 2021, half its volume in 2017.
Hightown, a housing association located north of London, has agreed a £100m unsecured green private placement, suggesting a modest growth in appetite for unsecured investment in the sector.
Prudential has signed a $4bn revolving credit facility, with margins linked to its sustainability performance. This is the first deal of its kind by a major US insurer and puts pressure on others to follow suit.
Adamo, a broadband company, has agreed a €600m sustainability-linked loan, it said on Wednesday. The cash will be used for refinancing and to fund the expansion of its fibre network into rural Spain.
