Bank of America

Barclays said on Tuesday that it had hired Bank of America Merrill Lynch's Alex Shterenberg as global head of G10 and emerging markets electronic foreign exchange trading.

The African Development Bank and Nederlandse Waterschapsbank were able to sell a pair of oversubscribed no-grow $500m socially responsible deals on Tuesday, despite tougher market conditions as the end of the year approaches.

The African Development Bank issued the first green bond linked to the Secured Overnight Financing Rate (Sofr) on Tuesday. The European Investment Bank will look to extend the Sofr floating rate note curve on Wednesday with an October 2021 issue that will use a different coupon formula to the previous Sofr trades.

China State Construction International Holdings’ (CSCI) $500m perpetual bond sale on Monday proved that investors still have an appetite for the structure — if the terms are right.

The African Development Bank mandated banks on Monday for the first green bond linked to the Secured Overnight Financing Rate, Sofr.

African Development Bank and Nederlandse Waterschapsbank hit screens on Monday for SRI bonds. Meanwhile, CPPIB Capital will aim to issue its first green bond in euros early next year, following the conclusion of a pan-European roadshow last month.

Private school operator Cognita was the first borrower in a week to attempt an issue in the euro high yield market with a sub-benchmark size deal. It sought funding for its acquisition by Jacobs Holding, the Swiss investment and charitable firm, but pulled the bond deal after weak demand.

Takeda Pharmaceutical, the Japanese firm buying UK rival Shire, defied tough market conditions to press ahead with a $5.5bn trade to help fund its $62.5bn acquisition ahead of the Thanksgiving holiday.

Equita, an Italian independent investment bank, has made two hires as it seeks to beef up its fixed income offering.

No bond issuer is safe in this volatile market. Industrial and Commercial Bank of China (ICBC) learned that the hard way when it was forced to pull a dual-tranche floating rate deal last week. Its failure should serve as a warning sign to other borrowers.

Atlantica Yield, the UK-based energy yieldco that was formerly Abengoa Yield, abandoned a $300m eight year high yield bond issue on Tuesday, as yields in the market reached their highest for over two years.

Investors flocked to the Export-Import Bank of Korea’s (Kexim) $1bn bond on Monday, viewing the policy bank as a defensive credit to park their cash in.