Banks

Islamic Development Bank took €1bn out of the euro market on Wednesday, as it made its green sukuk debut with investors.

Two senior French equity capital markets and coverage bankers who left Société Générale two months ago have joined arch-rival BNP Paribas.

Thailand’s state-owned PTT Exploration and Production Public Co ended a two-year hiatus from the offshore bond market this week with a $650m deal, taking advantage of the low rate environment to extend its maturity profile to 40 years.

Macau casino operator Melco Resorts & Entertainment, Philippine power company AC Energy and a local government financing vehicle from Jiangxi were among the crop of issuers to hit the bond market on Tuesday.

Pharmaceutical research and development platform Pharmaron Beijing Co has bagged HK$4.6bn ($588m) after sealing its Hong Kong public offering at the top of the price guidance.

China deepened its dollar debt curve on Tuesday with a $6bn jumbo bond. With its biggest dollar deal yet, the sovereign has set a new benchmark for issuers from the country.

The UK’s Prudential Regulation Authority has handed three Citigroup subsidiaries a fine of £43.9m for problems with its regulatory reporting, in particular in relation to one of their capital and liquidity positions.

HSBC’s anticipated cuts to its global banking and markets (GBM) division may make sense. But they will not be easy to pull off smoothly.

Italy’s Tamburi Investment Partners brought a sub-bechmark five year trade on Tuesday, with similar deals for Gas Networks Ireland and Radiotelevisione Italia waiting in the wings.

Electricité de France attracted huge demand for a €500m hybrid capital bond issue on Tuesday, as the continued grinding tighter of corporate bond spreads meant subordinated bonds enjoyed solid demand from investors.

Chinese power company SDIC Power Holdings is moving forward with its plan to list global depositary receipts on the London Stock Exchange to fund global expansion and its clean energy drive.

Volkswagen Financial Services returned to the sterling bond market on Tuesday, after hitting the market twice over the summer.