Three of the most active banks in financing oil exports from the Ecuadorian Amazon — an environmentally destructive industry with a long track record of trampling on indigenous people’s rights — have agreed to cease important parts of their financial support, after pressure from NGOs and a devastating oil spill in 2020.
A cross-party group of UK members of Parliament has written to Andrew Bailey, governor of the Bank of England, calling on the Bank to start greening its quantitative easing and Covid support programmes.
Securitization is emerging as the last resort for some US oil and gas companies seeking funding. Banks are deserting the equity and reserve-based lending markets they rely upon. But investors have proved eager to deploy capital in well-structured shale deals that can yield as much as 6%, meaning the ABS market may provide a lifeline for the struggling energy firms, writes Jennifer Kang.
Santander reckons it can harness the power of hydrogen to boost its standing in corporate and investment banking, building on its ESG credentials in similar way to how rivals built supremacy during the internet boom, writes David Rothnie.
Tesco, the UK grocer, made a storming debut in the nascent sustainability-linked bond market on Wednesday, encouraging bankers who already expect corporate issuance using the novel structure to rocket this year.
Green securitization is firmly on the menu as part of the European Union's push for sustainable investment. But one corner of the market is proving slow to change, despite taking baby steps in that direction.
Caisse d’Amortissement de la Dette Sociale (Cades), the agency responsible for financing and amortising French social security debt, printed a £1.5bn social bond on Wednesday — the first ever deal in that currency and format from a public sector borrower.
Europe’s corporate bond investors had the chance to pick up some paper from the hairier end of their credit spectrum as this week began, with Portuguese power company Energias de Portugal and Swedish housing firm Heimstaden Bostad out with hybrid capital issues.
Plastics packaging firm Klöckner Pentaplast has included an ESG margin ratchet in the loan leg of its refinancing, which was announced on Monday, a feature set to become increasingly common in European leveraged credit this year.
The European Union hit screens on Monday morning to announce its first bond of 2021 under the Support to Mitigate Unemployment Risks in an Emergency (SURE) funding programme.
Infravia Capital Partners, the French private equity firm, has amended an equity bridge facility to make it align with the UN’s Sustainable Development Goals.
Caffil plans to issue privately placed covered bonds from its social framework, which secures financing for French hospitals.
Bond bankers said that Brazilian agribusiness company André Maggi (Amaggi) was the ideal credit for the market’s current tastes as the borrower notched a hefty oversubscription and tightening for a debut sustainability bond on Thursday.
Standard Chartered and United Overseas Bank have provided a HK$5.29bn ($682m) green loan to support a Gaw Capital Partners-led consortium’s acquisition of Cityplaza One.
The European Central Bank will use a new climate change centre to improve its work on the topic, while also investing in a new green bond fund set up by the Bank for International Settlements.
Three of the most active banks in financing oil exports from the Ecuadorian Amazon — an environmentally destructive industry with a long track record of trampling on indigenous people’s rights — have agreed to cease important parts of their financial support, after pressure from NGOs and a devastating oil spill in 2020.
A cross-party group of UK members of Parliament has written to Andrew Bailey, governor of the Bank of England, calling on the Bank to start greening its quantitative easing and Covid support programmes.
Securitization is emerging as the last resort for some US oil and gas companies seeking funding.
One of the boldest initiatives to green the financial system is getting under way this year, as the members of the Net Zero Asset Owner Alliance begin a drive to reduce the greenhouse gas emissions of entities they invest in by between 16% and 29% in the next five years.
Passive investors are expected to become a bigger force in environmental, social and governance debt investing this year, as index providers and asset managers expand the range of products that apply ESG criteria to bonds.
This week in Keeping Tabs: disagreement over stimulus in the US, a treat for the end of Trump, and how people present their backgrounds.
Credit Suisse has made seven appointments within its sustainability strategy, advisory and finance (SSAF) unit:.
Santander reckons it can harness the power of hydrogen to boost its standing in corporate and investment banking, building on its ESG credentials in similar way to how rivals built supremacy during the internet boom, writes David Rothnie.
RBC Capital Markets has reorganised its European equity capital markets and corporate broking business following the decision of Darrell Uden to step down at the end of this month.
Chinese vape company RLX Technology raised $1.4bn from its US listing this week, pricing the deal above the marketed range after a huge turnout from investors.
Supreme plc, the Manchester-based maker of vaping liquids for e-cigarettes, is preparing to go public on London’s alternative investment market (AIM).
Chinese e-cigarette manufacturer RLX Technology has drawn enough early demand to well oversubscribe its US IPO worth up to $1.16bn, according to a source familiar with the matter.
This week in Keeping Tabs: disagreement over stimulus in the US, a treat for the end of Trump, and how people present their backgrounds.
Santander reckons it can harness the power of hydrogen to boost its standing in corporate and investment banking, building on its ESG credentials in similar way to how rivals built supremacy during the internet boom, writes David Rothnie.
The relationship between the US and China, which has faced immense strain during Donald Trump’s presidency, is unlikely to get too much relief under the Biden administration.
Eurostar, the company which runs trains through the Channel Tunnel between London and Europe, is angling for a UK government-backed bailout loan.
Securitization can play a part in the UK’s economic recovery from the coronavirus pandemic but it needs the government to keep the housing market alive.
The ECB's attempts to curb leveraged lending are damaging, inconsistent, and come at exactly the wrong time
The European Central Bank will use a new climate change centre to improve its work on the topic, while also investing in a new green bond fund set up by the Bank for International Settlements.
Three of the most active banks in financing oil exports from the Ecuadorian Amazon — an environmentally destructive industry with a long track record of trampling on indigenous people’s rights — have agreed to cease important parts of their financial support, after pressure from NGOs and a devastating oil spill in 2020.
A cross-party group of UK members of Parliament has written to Andrew Bailey, governor of the Bank of England, calling on the Bank to start greening its quantitative easing and Covid support programmes.
This week in Keeping Tabs: disagreement over stimulus in the US, a treat for the end of Trump, and how people present their backgrounds.
The relationship between the US and China, which has faced immense strain during Donald Trump’s presidency, is unlikely to get too much relief under the Biden administration.
The emergence of institutional money into bitcoin is the death knell for its revolutionary dreams of a decentralised economic system.
The New York Stock Exchange’s flip-flop on whether to delist three Chinese telecommunications giants caused plenty of confusion in the market this week, but mainland companies are still keen to sell shares in the US.
The stock exchanges in Shanghai and Shenzhen have introduced new regulations to forcibly delist companies, fast-tracking the process and giving more clarity about the various scenarios that can push firms to exit the bourses.
Orient Overseas (International) has scooped up HK$932.5m ($120.3m) from a top-up placement, increasing the deal on strong anchor investor demand.
Mongolian Mortgage Corp's (MIK) dollar bond market return was cancelled on Thursday after pandemic-related protests forced the country's prime minister to resign.
Several industries once popular with direct lenders have struggled to cope through the coronavirus.
JD Wetherspoon, the UK pub chain, tapped equity investors for £93.7m ($128m) on Tuesday to help see it through the country’s third Covid-19 lockdown.
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