Société Générale
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Europe’s corporate bond market has seen an influx of ESG deals from highly polluting sectors, testing how much environmentally and socially conscious investors buy into firms' transition stories. -
Two SSA borrowers sold dollar paper on Thursday. Council of Europe Development Bank achieving the tightest spread to mid-swaps from a public sector borrower this year, breaking a record equalled earlier this week by Asian Development Bank. At the other end of the curve, Inter-American Development Bank made its debut at the 10 year maturity with a deal linked to the Secured Overnight Financing Rate (Sofr).
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South Korea's Shinhan Card has sold a $300m social bond in the Taiwanese market, finding strong interest from investors keen to support deals in this growing asset class.
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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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French digital music company Believe has fixed the terms for its €300m IPO on Euronext Paris, after scaling back the deal size amid a challenging market for new stockmarket listings in Europe.
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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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French banks and foreign rivals are slugging it out in France’s corporate finance boom, where proximity to the government is an advantage, writes David Rothnie.
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AstraZeneca, the UK drug maker, hit the euro market on Wednesday after printing $7bn across the Atlantic a day earlier. The borrower is building up funds to pay for its $39bn acquisition of US rival Alexion Pharmaceuticals.
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Emirati state-owned Mamoura Diversified Global Holding returned to the MTN market this week to sell its first private placement since its parents’ merger in 2017.
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Europe’s high grade corporate bond market had a distinctly Spanish flavour on Tuesday as Cellnex and Merlin Properties issued. Some analysts predict that the healthy earnings season might mean a 15% rise in bond issuance from the European market.
