Santander

Banco Santander and Banque Fédérative du Crédit Mutuel found good demand for new green senior deals on Thursday, after they tested euro market conditions in the wake of a hawkish surprise from the US Federal Reserve.

Europe’s high grade bond market hosted issuers at both ends of the rating spectrum on Wednesday, with Italian transmission company Terna and Singapore’s Ascendas Reit finding ample demand for their higher rated debt.

Stellantis, the entity formed by the merger of car makers Fiat-Chrysler Automobiles and PSA Group, printed what the lead managers reckon was the longest maturity bond in euros from the sector in its ratings bracket, though the market was divided over whether peers could print similar deals.

Spain’s Instituto de Crédito Oficial hit the market for its third green bond on Monday, giving its newly updated framework for the product its first airing.

Atresmedia and Sipartech came to the euro loan market this week, as lenders say there are already signs of borrowers packing up for the summer.

A trio of foreign banks tapped an attractive Swiss market this week, finding opportunities to top up their well-advanced funding programmes with a bit of pricing arbitrage.

Santander Chile sold its first public international bond in over a year on Tuesday, turning to the Swiss franc market and pricing well inside its domestic curve as the local market loses its lustre.

Enel, a long term sustainable finance champion, took €10.4bn of orders for its triple tranche sustainability-linked notes this week, but needed to pay up for longer maturities as inflation worries persisted.

Survitec, the UK survival and safety company, has signed a revolving credit facility, bringing debt raised by the acquisitive company in the last few months to £297.5m.

Atresmedia has signed a €250m sustainability-linked loan, becoming the first Spanish media company to do so.

Deutsche Bank’s recently announced policy on returning to the New York office in September fits what many bankers have been expecting for months and heralds a return to normality. But for a small subset of bankers who left offices in London for lockdown in March 2020, the end of restrictions will also mean a change of circumstances — and getting used to living in a new country.

The ESG capital markets were left reeling on Thursday after a group of banks provided a £1.1bn-equivalent sustainability-linked facility that does not have any key performance indicators included — on the agreement that the borrower will add them within 12 months. Mike Turner reports.