Social

Social moves pique NN IP interest, SLBs yet to convince

NN Investment Partners’ green bond offering has this year been boosted by an increase in sovereign activity, while social developments may have opened a gap in the market, according to Douglas Farquhar, client portfolio manager for green bonds, NN IP, even if its reservations about sustainability-linked bonds (SLBs) persist.

Featured

Corporates branch out in green and social bonds

Green and social bond markets have withstood and even grown on the back of the Covid-19 pandemic. Rooted in their businesses and CSR strategies, an increasingly diverse range of corporates are approaching the market — at times branching out into new instruments. In this Sustainabonds roundtable sponsored by ABN AMRO, corporate finance and responsible investment professionals share their insights and opinions around the latest developments.

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CEB fast-tracks support, expands Social Inclusion Bonds

In response to the pandemic, Council of Europe Development Bank (CEB) has doubled its Social Inclusion Bond outstandings and added the health segment to its framework, while fast-tracking Covid-19-related support. Arturo Seco Presencio, deputy CFO, head of funding, treasury and ALM, CEB, discussed its rapid reaction and social bond trends with Sustainabonds’ Neil Day.

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Social bonds primed for ESM’s Pandemic Crisis Support role

The European Stability Mechanism is ready to issue social bonds for the first time should any euro area member state apply for Pandemic Crisis Support under a €540bn EU safety net. ESM head of funding and investor relations Siegfried Ruhl spoke to Sustainabonds’ Neil Day about how the instrument befits its latest role and builds on its broader ESG efforts.

Deals

Strong demand for Arkéa Covid-19 bond helps it to SNP high

Strong demand for a Covid-19-focused social bond from Crédit Mutuel Arkéa on Thursday allowed the French issuer to price its biggest senior non-preferred (SNP) transaction, a €750m nine year non-call eight deal whose proceeds are earmarked for supporting healthcare and SME development.

Deals

SFIL ready to step up after Caffil Covid-19 covered bond first

Caffil took advantage of an existing social bond framework to be the first-mover in Covid-19-related covered bonds on Tuesday, tapping into improving conditions to raise €1bn for lending to public hospitals ahead of an anticipated broader rise in French public spending and SFIL group funding.