Banks

Paccar Financial, the leasing arm of Paccar, the US maker of DAF, Kenworth and Peterbilt trucks, braved the European market on Wednesday to print a sub-benchmark sized bond, as syndicate officials said the market could move wider.

Hipgnosis Songs Fund Ltd, the London-listed fund that invests in music royalties, is considering another equity capital raising to finance its investment pipeline, only four months after it last raised £231m ($297.45m). In January, the fund acquired an extensive song catalogue, including 'Believe' by Cher.

MUFG has put one of its co-heads of debt capital markets at risk of redundancy.

Banks are delaying their plans to raise funding in the euro market, as credit spreads drifted wider on news about the spread of the Covid-19 coronavirus.

Omani gas transportation company, Oman Gas Co, a branch of state-owned Oman Oil Co, has sold an $800m credit facility to local lenders.

MTN deal volumes year-to-date have slumped by nearly a third year on year, falling from $51.6bn in 2019 to $35bn this year. The fall has been particularly pronounced in core currency deals, with deals from other currencies forming a larger proportion of the market.

Alvaro Revuelta and Jorge Ramos have been picked as co-heads of investment banking in Iberia for Citi.

Investors flocked to Hysan Development Co's opportunistic $850m subordinated bond on Tuesday, allowing it to take home a larger deal than expected.

Yield-hungry investors pumped in more than $4bn into China Minmetals Corp’s $1bn perpetual bond on Tuesday. The issuer started at a generous pricing level to attract buyers in a volatile market.

Bank of Communications’ Basel III-compliant additional tier one bond issuance went as expected on Tuesday, despite a dip in investor sentiment due to the rapid spread of the coronavirus.

Investors who have been longing for the EU Taxonomy of Sustainable Economic Activities to tell them what is green are now realising that its arrival could make life tricky. From the end of next year, they will have to start reporting how sustainable all their portfolios are. It could prove an enormous headache. But a tiny company has developed a tool it claims can cut out a lot of the worries investors face in working out how to comply.

Natixis has appointed Aurélien Lasjunies as head of Asia Pacific coverage for its corporate and investment banking division, poaching him from French peer Crédit Agricole.