Banks

Tesco, the UK supermarket chain, and US medical equipment firm Stryker sailed through the European bond market on Monday. Both issuers benefitted strongly from having picked the right moment to launch.

Grenke priced an additional tier one (AT1) bond on Tuesday, enjoying strong appetite from domestic investors. The German lender raised €75m, an additional €25m compared with the expected size.

Islamic Development Bank on Tuesday came to investors with a benchmark five year deal, two weeks after announcing its intention to issue a green sukuk in the euro market.

Investors showered a debut dollar deal from Uzpromstroybank with orders on Monday, with the order book for the $300m bond peaking at $1.2bn. But despite the success for the privatisation candidate, government officials are hoping that future Uzbek bond issuance will favour local currencies.

BPCE appealed to a wide range of investors by adding a green element to its preferred senior bond on Tuesday. The trade was met with hefty orders, even though investors are showing signs of winding down for the year.

DNB Bank did not require a premium to raise $2bn of short dated senior funding at the beginning of the week, as it swooped into the market ahead of the US Thanksgiving holiday.

Finland’s Terveystalo has refinanced its bank debt, with the healthcare provider becoming the latest corporate to switch its credit facility to be linked to sustainability metrics.

Sanlorenzo, the Italian maker of luxury yachts, is hoping to succeed where its competitor Ferretti failed, having fixed a price range for its €192.5m IPO on the Borsa Italiana, which values the company at up eight times its forward Ebitda, people familiar with the matter said.

Chinese government-owned China State Construction International Holdings (CSCI) raised $500m from a subordinated perpetual bond, after investors put in orders that covered the transaction by more than 10 times at the peak.

TMB Bank Public Co has sealed a $400m Basel III-compliant additional tier one bond. The rarity of the Thai deal made price discovery tricky.

Biotechnology company Venus Medtech (Hangzhou) has kicked off bookbuilding for its Hong Kong listing, eyeing a HK$13bn ($1.66bn) valuation.

Ant Financial, an affiliate of Chinese e-commerce giant Alibaba Group Holding, has launched a $3.5bn three year loan into syndication, after closing an amendment and extension of an old borrowing.