Raiffeisen Bank International AG
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Romania will sell a euro denominated bond on Wednesday, its second offering this year and its fourth of the last 12 months. -
A succession of debut labelled deals are filling the FIG pipeline as issuers look to make use of the last window ahead of the summer break. ESG bonds from SpareBank 1 SR-Bank and Banco BPM are set to join the already mandated Banca Popolare di Sondrio and Arion Bank in the market later this week.
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Three infrequent FIG borrowers are set to drop into a stable euro market this week, with Arion Bank, Banca Popolare di Sondrio and Westpac New Zealand all preparing senior deals .
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Three European banks are lining up trades to finance their environmental, social and governance (ESG) objectives this week, with more than half of euro FIG bond issuance arriving in labelled formats in June so far.
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Raiffeisen Bank International launched its first green tier two on Wednesday, landing at a spread that was 10bp inside fair value for an unlabelled deal.
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Banco de Sabadell was up to four times subscribed for a tightly priced green deal on Tuesday — its debut in non-preferred senior format. Other FIG issuers are also considering adding ESG labels to more subordinated products, with Raiffeisen Bank International planning a green tier two for this week.
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Mondi, a UK packaging and paper company, has signed a €750m revolving sustainability-linked facility, days after completing an acquisition of a Turkish packaging firm.
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Polymetal, one of Russia’s largest gold producers, has added to its green debt by raising $400m from international lenders
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Belgian supermarket chain Louis Delhaize launched a Schuldschein on Tuesday afternoon, according to market sources, joining a band of retailers tapping the market this year.
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UBM Development, the Austrian property company, issued last week what it believes is the eurozone’s first sustainability-linked retail bond — bringing one of the hottest techniques in corporate finance to a traditional market that has dwindled in the recent climate of negative interest rates.
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MAS Real Estate is the latest emerging markets issuer to have issued paper linked to environmental, social or governance factors. However, EM investors are demanding more ESG paper to match the levels seen in developed markets.
