Banks

Dubai Islamic Bank, which began roadshows over a week ago for a senior unsecured sukuk, has postponed the deal as a result of the Covid-19 virus, according to bankers near the deal. The spread of the virus has caused sharp swings in global markets, causing havoc in primary markets.

UK insurer Hiscox said on Monday that it had received some ‘small claims’ relating to Covid-19, as credit analysts warned that the insurance sector was exposed to indirect impacts from the spread of the virus.

Activist investor Edward Bramson has called on Barclays not to renew chief executive Jes Staley’s contract over his links with dead sex offender Jeffrey Epstein. He also questions the bank’s corporate broking relationship with JP Morgan.

Nomura has established a strategic partnership with Indonesian brokerage Verdhana to boost its equities execution and research in the country.

Chinese biotechnology company InnoCare Pharma has won final approval for its Hong Kong IPO. The next step is marketing the deal, after delayed investor meetings in February.

SBI Cards and Payments Services has kicked off its up to Rp103.4bn ($1.4bn) IPO, with over one quarter of the deal subscribed by anchor investors.

Indonesia’s Buana Finance has returned to the offshore loan market after five years, seeking a $73m loan.

Only a few issuers braved the MTN market in what was otherwise a week silenced by coronavirus volatility. With deals far and few between, bankers highlighted trades from Lufthansa and the Brussels Capital Region as market standouts.

A managing director in Barclays' investment grade bond syndicate team in New York is set to leave the bank.

Nomura's head of sovereign, supranational and agency, covered bonds and financials trading has left the bank.

The only high yield bond deal being actively marketed in euros this week has been postponed. The deal was for Fugro, the Dutch company that provides geographical data and asset integrity services to onshore and offshore industries. It was a debut issue for a listed company with no sponsor involved, so there had been good interest, but market conditions just proved too difficult.

DRI Healthcare, the Canadian investment fund focused on pharmaceutical royalties, has postponed its $350m IPO on the London Stock Exchange, blaming the global equity market selloff caused by the spread of the Covid-19 virus.