Banks

Struggling Swiss steelmaker Schmolz + Bickenbach has launched an emergency rights issue after the Swiss market regulator FINMA approved it on Monday.

Indian Oil Corp’s Canadian subsidiary, IndOil Montney, has returned to the loan market for a C$580m ($438m) five year deal. Unlike the last time, when it was primarily focusing on US and Canadian banks, the latest deal is targeting Asian liquidity.

Spain’s Beachbox Hotelco has signed a €55m green project finance loan, amid increasing calls from some parts of the market for regulators and governments to do more to cover banks’ costs in sustainability lending.

The fight to influence the way in which EU lawmakers implement the final Basel financial rules is heating up towards the end of 2019, with lobbyists tussling over the potential impact on the European banking sector.

French insurance firm Scor made good use of quiet conditions in the FIG market this week, tapping a restricted tier one (RT1) bond — the first ever in dollars — for another $125m.

Shangrao Investment Holding Group Co tried to brave the market with a three year bond on Tuesday despite a volatile start to the week for local government financing vehicles (LGFVs), but it ended up pulling the dollar transaction.

Algebris Investments has launched a new fund to buy investment grade securities issued by global financial institutions. It is looking to profit from a sector that it sees as being undervalued compared with every other area of credit.

The Park Hotels, an Indian luxury hotel chain, is planning to go public next year through an IPO of new and existing shares, according to a source close to the deal.

Langham Hospitality Investments has closed a HK$7.5bn ($958m) sustainability-linked deal with 11 lenders, marking the first loan of its kind from the hospitality sector in Asia.

French company Veolia Environnement is set to return to the Panda bond market after more than a year away. It has mandated banks for its third outing in China’s debt market.

Wynn Macau, a hotel and casino resort, raised $1bn from its bond return on Tuesday, surpassing expectations on both size and price.

Kunal Gandhi, the head of corporate broking at Barclays, has left the bank, GlobalCapital understands.