Banks

Indian telecommunications giant Bharti Airtel made a splash in the equities market this week, bagging $2bn from a qualified institutional placement (QIP) and $1bn from a convertible bond, the first equity-linked issue in the country in more than two years. Both the deals received a big thumbs-up from investors, reports Jonathan Breen.

Turkiye Sinai Kalkinma Bankasi (TSKB) has mandated for a five year senior unsecured dollar bond as investors breathed a sigh of relief over the calming of tensions between the US and Iran.

India’s National Thermal Power Corp has mandated three lenders for a $300m-equivalent Samurai loan, after sending out a request for proposals last year.

Phoenix Tree Holdings, a Chinese co-living platform, has started taking orders for its up to $175m IPO on the New York Stock Exchange.

The European Investment Bank delivered 2020’s first Sonia bond on Wednesday, adding to a streak of hot deals in sterling. The second Sonia deal is set to follow on Thursday.

KfW, the European Investment Bank (EIB) and, in the medium-term note (MTN) market, a German region and a Finnish agency have kicked off the Norwegian krone market for SSAs. Bankers are hoping to extend krone’s impressive form from last year into 2020.

Vincent Barea has joined Société Générale as a credit trader covering financial bonds.

Investors piled into the euro public sector bond market on Wednesday, allowing borrowers to achieve well subscribed order books and minimal new issue concessions for a range of maturities.

Two dollar benchmarks hit screens on Wednesday. While the issuers achieved good results, the volatility caused by Iran’s missile strike on US bases meant that the deals met with less hungry investors.

Faber-Castell, the German manufacturer of office supplies, was the second borrower to enter the Schuldschein market in 2020, offering five and seven year notes with a sustainability-linked ratchet on Wednesday.

RBC Capital Markets has continued the development of its leveraged finance business by hiring Craig Campbell from HSBC.

ABN Amro made its first ever sale of non-preferred senior debt on Wednesday, as European banks give investors plenty of opportunities in add exposure in the asset class at the beginning of 2020.