In this report we highlight significant issuance. We also analyse the relevant syndication fees earned by global banks. This reveals that Citi, JP Morgan, and Bank of America each generated over $20mn in fees from transactions involving deforestation-linked companies in Q1.
In addition, we include a review of palm oil policies for selected banks, highlighting the consistent exclusion of far downstream companies, such as the ultimate retailers, from deforestation-related due diligence.
Further, we identify those corporates that have debt maturing shortly, including Amazon.com, Shell, GSK, and Target. Such companies may be good engagement opportunities for investors as they may prepare to issue new instruments.
