Banks

Real estate company Bumi Serpong Damai (BSD) followed the recent success of other high yield Indonesian borrowers in the dollar market on January 20, homing in on a refinancing opportunity that had slipped through its fingers in 2019.

Vietnam Technological and Commercial Joint Stock Bank (Techcombank) has mandated five banks for a $300m loan.

Trans Retail Indonesia, previously known as Carrefour Indonesia, and textile firm Sri Rejeki Isman (Sritex) have both mandated banks for new loans.

Mowi, one of the largest seafood companies in the world, issued a €200m green bond this week. The Norwegian fish farmer advertises seafood as an environmentally friendlier and healthier alternative to meat but has also faced claims that it endangers ecosystems with its net-pen salmon farms.

GlobalCapital understands that Commerzbank has ended its primary dealership with the Netherlands, where it was a market maker for Dutch bills.

The World Bank made its first visit to the Rwandan franc market last week, place what Dealogic indicates is the first deal in the currency since 2015.

Nederlandse Waterschapsbank is the only issuer set to come to the euro market on Tuesday, despite the fact that conditions are still favourable.

CPPIB Capital achieved a strong reception from investors for its first sterling bond on Monday with the order book setting a new record as the largest in the currency from a non-UK public sector borrower.

Debt investors are forecasting a rise in corporate spreads and in the yields of both US Treasuries and German Bunds over the coming months, according to a survey.

Loans backing Advent’s takeover of UK defence contractor Cobham, which received government approval over Christmas, have started general syndication, bringing welcome new money loans with a margin on the right side of 400bp.

The UK's Valesco Group has bought Brussels Finance Tower in a €1.2bn loan-backed purchase, in what the real estate investment and asset manager says is the second largest single asset acquisition in mainland Europe.

Issuers of additional tier one (AT1) capital have been more than 10 times subscribed for new deals on average in 2020 so far. This week's euro trade from Erste Group was no exception, with the €500m bond attracting €6.25bn of orders and a 'phenomenally tight' coupon.