ING
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Two issuers in Europe’s high grade corporate bond headed to the short part of their curves on Monday as inflation worries continue to rattle the market ahead of the European Central Bank meeting on Thursday.
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A spate of UK borrowers have signed loans that use Sonia as the benchmark rate from day one this week, with the consistently tricky transition given some cheer after companies said that the process is fairly simple.
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Nestlé, the Swiss food company, landed its largest ever euro bond on Wednesday, close to or through fair value. But investors showed a strong preference for the shortest tranche after EU inflation turned out higher than expected this week.
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ING Group showed credit investors are hungry for extra yield on Wednesday, as it proved popular with a new tier two deal paired with a green label.
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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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BBGI Global Infrastructure, a London-listed infrastructure investment company, has become the latest company from its sector to refinance its main bank line, with the company planning to use the funds for major transactions and acquisitions.
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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.
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ING has appointed a new country manager for Hong Kong and China, succeeding veteran banker Aart Jan den Hartog, who is leaving the Dutch firm at the end of June.
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Europe’s high grade corporate market this week saw one of its busiest days of the year, with a touch over €4.5bn printed from eight tranches on Wednesday, and investors lapped up most of the deals with ease.
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