Date Time
Ashurst advises Pricoa on SIT’s private placement of ESG-linked bonds
Global law firm Ashurst has acted for Pricoa Private Capital, the private capital business of Prudential Financial, Inc., as initial purchaser of ESG-linked bonds issued by Italian listed company SIT S.p.A. (SIT) to diversify its funding sources and improve financial flexibility.
SIT is the parent company of SIT Group (the Group), which is a leading global manufacturer and supplier of smart solutions for climate control and consumption measurement. The Group has subsidiaries and operations in, among others, Italy, Netherlands, Romania, Portugal, China, USA and Mexico; it has recorded revenues in excess of €320 million in 2020, with an adjusted EBITDA of more than €44 million and a net profit of more than €13 million.
As businesses and institutions adjust to the new ‘normal’, corporate entities have continued to seek innovative and capital effective ways to source funding to finance their institutional needs. In keeping to its commitment of providing a reliable and credible platform to support capital formation, FMDQ Securities Exchange Limited (“FMDQ Exchange” or “the Exchange”) is pleased to announce the approval and admission for quotation of the MTN Nigeria Communications PLC (“MTN Nigeria” or “the Issuer”) N19.77 billion Series 3 and N53.74 billion Series 4 Commercial Papers under its N200.00 billion Commercial Paper Issuance Programme on its platform.
MTN Nigeria Communications PLC (“MTN Nigeria”) is Nigeria’s premier provider of connectivity, communication and collaboration solutions, and the largest privately owned mobile operator in Africa, Europe, and the Middle East. The company serves over sixty-one (61) million subscribers with national coverage and a fibre
March 17, 2021
Nigel Beck Standard Bank
JSE-listed Netcare, which operates a network of hospitals and other healthcare services in South Africa and Lesotho, has launched Africaâs first sustainability-linked bond, in partnership with Standard Bank.Â
The coupon rate of these bonds is linked to the issuerâs achievement of certain pre-agreed sustainability performance targets. In Netcareâs case, the group aims to reduce its energy consumption, procure more renewable energy, reduce total carbon emissions, and further improve its water efficiency, partly by increasing its capacity to recycle grey water. In addition, Netcare is developing systems to ultimately convert all infectious healthcare risk waste (HCRW) produced on-site to inert products and achieve zero waste to landfill for waste, outside the HCRW stream, by 2030. Â
CALOOCAN CITY, Feb. 9 (PIA) State-run Land Bank of the Philippines (LandBank) was recognized twice in the 5th Investment House Association of the Philippines (IHAP) Awards.
The Bank received the Best Fixed Income Deal (Small-Mid Cap) Award for the BALAI (Building Adequate Livable Affordable and Inclusive Filipino Communities) Bonds 1 issuance, and the Best Project Finance Deal Award (Large Cap) for its role in Atlantic Aurum Investments Philippines Corporation’s (AAIPC) Syndicated Corporate Notes Facility.
LandBank, through its Investment Banking Group (IBG), acted as the Sole Arranger and Underwriter for the National Home Mortgage Finance Corporation’s (NHMFC) P270.25 million BALAI Bonds 1 issued last December 2019.