Sumitomo Mitsui Financial Group

Banks have ramped up their use of green senior bonds in the fourth quarter of 2017, with many of their latest offerings sporting fantastic results in terms of pricing. But, as Tyler Davies reports, European financial institutions have yet to mix the principles of green finance with the tenets of bank capital — an experiment that could be even more beneficial for everyone involved in the growing green bond market.

Saudi Electricity Co’s $1.75bn loan has been successfully sold down to four other banks.

State-owned Abu Dhabi National Oil Co (Adnoc) is expected to sign its debut syndicated loan facility for $6bn with 13 banks next week.

Saka Energi Indonesia, the upstream oil and gas arm of Indonesian state-owned Perusahaan Gas Negara, has allocated its $250m loan. The deal is scheduled to sign next week.

A $2.5bn refinancing by Reliance Industries (RIL) and its telecommunications arm, Reliance Jio Infocomm, has been opened to retail participants.

Berlin Hyp has become the latest FIG issuer to enter the green senior unsecured market in euros, after Sumitomo Mitsui Financial Group (SMFG) and Mizuho Financial Group opened up issuance from Japan earlier this month.

The mandate for Reliance Industries’ $2.5bn refinancing has been revealed. The deal will consist of three portions, the bulk of which will replace a $1.5bn loan taken by one of its subsidiaries in late 2014.

Dongfeng-Nissan Auto Finance has tapped the Chinese asset-backed securities (ABS) market for a third time this year with a Rmb3.5bn ($531.9m) two-tranche deal. The company made its first attempt to attract foreign investors trading through Bond Connect in the October 12 deal – with mixed results.

Sumitomo Mitsui Banking Corp returned to market as it took a combined $4bn amid red-hot funding conditions.

Banks that committed to a $250m loan for Saka Energi Indonesia, the upstream oil and gas arm of Indonesian state-owned Perusahaan Gas Negara, can expect to be scaled back after $285m of pledges came in by the end of general syndication.

Indian state-owned company Power Finance Corp (PFC) has sent a request for proposals for a loan of up to $300m, seven months after a failed attempt to raise $100m-equivalent from a 10 year deal.

State-owned Abu Dhabi National Oil Co. (Adnoc) launched a $6bn debut syndicated loan this week after increasing the credit’s size and tightening pricing in response to banks’ hunger for it.