An oil & gas bond we knew would come eventually… Repsol: first oil & gas bond: good on GBPs, not so sure on green credentials:
Last week, the first green bond was issued by an oil company. Madrid based Repsol SA issued a EUR500m bond maturing in 2022.
In an interesting development for “thematic” bonds, Air Liquide Finance yesterday issued a 9 year, €500m “SRI (Socially Responsible Investment)” corporate bond. Coupon: 2.125%, rated "A Positive Outlook" by S&P. Manager was the ground-breaking Credit Agricole (Tanguy Claquin of course).
Germany's SolarWorld is issuing a €150 million corporate bond.
Also in Germany, Windreich (wind energy) is issuing a €75 million corporate bond.
LSE is today introducing a new bond trading platform for retail bonds intended to "improve transparency and pricing" (the size of the bid-offer spreads which can be very large). The aim is to make corporate bonds more accessible for retail investors, and so to open up a new source of financing for companies and others.
