Svenska Handelsbanken
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CaixaBank found €3.7bn of demand for a green senior bond on Tuesday, as investors revealed their hunger for new paper. BayernLB could follow with a green deal of its own against the improving backdrop in euros. -
Svenska Handelsbanken has become the latest European bank to put out a call notice for one of its additional tier ones. Market participants are expecting a clean sweep of redemptions for the asset class this year.
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Huhtamaki, the Finnish food packaging company, has refinanced a €400m facility, with the borrower becoming the latest to add sustainability metrics to its main bank line as an EU ban on single-use plastics comes into force.
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After a remarkable year, GlobalCapital reflects on some of the most important stories in the bank finance and covered bond markets of 2020.
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Two banks landed tight with environmental, social and governance (ESG) themed deals this week: Crédit Agricole settled at a record low on its social bond debut, while DZ Bank came even tighter with its first senior non-preferred green bond.
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Credit Suisse gave investors an opportunity to buy new additional tier one (AT1) paper in the dollar market on Wednesday, shortly after receiving a credit ratings upgrade from Moody’s.
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European banks are running out of ways of selling senior bonds at positive yields. A near-miss from Svenska Handelsbanken this week was enough to convince the market that it’s only a matter of time before an issuer breaks the 0% barrier, write Tyler Davies and Frank Jackman.
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BNP Paribas took advantage of the thirst for duration in the euro bond market on Thursday, offering investors a chance to get hold of long dated non-preferred senior paper.
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Svenska Handelsbanken sailed very close negative yield territory when it printed a €500m seven year green senior non-preferred deal on Wednesday.
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Stadshypotek on Tuesday became the first Swedish bank to issue a euro benchmark covered bond this year, with its first euro deal secured on Norwegian mortgages. The bond was priced at the tightest spread for any covered bond issued outside the eurozone since May 2019.
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NatWest Group and Société Générale reopened the additional tier one (AT1) market to some fanfare this week, as investors showed they were hungry for yield by snapping up the deals.
