Bond spotlight

Bottom-up situational analyses of individual securities and issuers to support investors in these bonds and provide case studies for the sustainable development of the fixed income market.

Cargill: EUR bond, EU deforestation risk

14/04/2023

In this report, we discuss Cargill's clear deforestation and land-use change exposures.

EQT Infrastructure investors and off-shore capital raising for Adani Group

05/04/2023

EQT Infrastructure investors and off-shore capital raising for the Adani Group.

The reformed SSA trader: A new-found dog

07/03/2023

Newfoundland and Labrador announces a new program for issuing debt into the European SSA market.

A row of wind turbines at dawn.

SLB triggers: what next if Nobian or PPC miss their targets

28/02/2023

In this report, we consider the possible implications of a “thematic default” by Nobian or PPC.

A row of wind turbines at dawn.

BHP: think big with an SLB

23/02/2023

Mining giant BHP is looking to tap the US dollar bond market for the first time in ten years.

Big oil, small short

13/02/2023

We highlight the differential between Exxon Mobil equity dividend yield and two-year bonds.

A financial analyst’s Bloomberg keyboard layout.

Adani Enterprises and passive ESG index investors

10/02/2023

In this report, we ask why Adani Enterprises was ever included in “sustainability” or “ESG” equity indices.

A financial analyst’s Bloomberg keyboard layout.

Enel SLB: market update on 2022 KPI observation

08/02/2023

This note presents market pricing on Enel's SLB.

A financial analyst’s Bloomberg keyboard layout.

GREENSAIF: a not-so-green, double-edged sword

06/02/2023

BlackRock Real Assets looks to the bond market to refinance their investment in Aramco.

Nissan: shift expectations with an SLB?

05/02/2023

In this report, we explore the market trend of increasing issuance of green bonds by the auto industry.

A financial analyst’s Bloomberg keyboard layout.

Adani Group: Investment Grade to High Yield risks

30/01/2023

We discuss how Adani's bonds have fallen further in cash price terms.

A financial analyst’s Bloomberg keyboard layout.

Adani Group: Bonds underperforming equities

25/01/2023

Here, we show how equities within the Adani Group moved after a critical report was posted.