Banks

The World Bank is looking to New Zealand for a new five year. The deal will be its first bond in the Kauri market since January 2019.

First Abu Dhabi Bank (FAB) is ready to hop into the Kangaroo market this week, having mandated a pair of banks to lead a potential five year Aussie dollar deal, offering an attractive spread.

Italy is on screens with a 15 year benchmark, opting for the long end of the curve in spite of the concern some bankers have expressed about the difficulty of selling long dated debt.

Two European borrowers hit screens on Monday morning at the short end of the euro curve, with a third set to follow suit on Tuesday as issuers. Both of Monday’s deals received extraordinarily strong demand.

High grade corporate bond investors in Europe will have a range of names to pick from in the coming days, as US white goods maker Whirlpool mandates for euros and UK utility Welsh Water hires banks for a dual tranche sterling deal.

The International Finance Corp is set to become the latest public sector borrower to head to the seven year part of the sterling bond curve, in an attempt to achieve a more attractive funding cost when swapping out of the currency.

Akelius Residential Property, the Swedish property company, ratcheted in the yield on its hybrid capital issue by 50bp on Monday, setting the stage for a romping week of similar issuance as further names line up deals.

Shares in NMC Health, the beleaguered UAE healthcare company, surged as much as 18% on Monday morning after it said it had received takeover approaches from buyout firms KKR and GK Investment.

Société du Grand Paris and the City of Munich will break new ground in the socially responsible bond market this week as the pipeline for green and social debt from public sector borrowers builds.

Marel, the Icelandic company that makes food processing equipment, has signed a €700m revolving credit facility, becoming the latest investment grade borrower to switch its bank debt to a sustainability-linked structure.

The Kingdom of Norway is eyeing the international investor base as it prepares to launch its yearly Norwegian krone bond syndication — a new 10 year benchmark, set to mature in August 2030.

First Abu Dhabi Bank signalled its intention to tap the sterling bond market on Monday, announcing investor calls for a short dated offering.