Banks

DNB Bank moved the pricing by 37.5bp on a new additional tier one (AT1) in the dollar market this week, becoming one of the first banks to break through the 5% pricing marker.

Serbia has returned to the euro market after only four months, tapping the line it opened in June this year and raising cash to refinance dollar obligations it faces in 2020.

A senior convertible bonds investor at Fisch Asset Management, the Swiss boutique asset manager, has resigned to take up a new role in London in January, GlobalCapital understands.

Bajaj Finance, an Indian non-banking financial company, has launched its debut offshore borrowing of $575m-equivalent into general syndication.

Philippine conglomerate San Miguel Corp has launched its $1.75bn loan into general syndication, after one bank joined as a mandated lead arranger and bookrunner during the senior phase.

State-owned China Petrochemical Corp (Sinopec) raised $2bn from three dollar bonds on Monday, making a rapid comeback to the debt market.

South Korean steel company Posco checked every box for investors with its $500m bond issuance on Monday. Even though the deal offered no new issue premium and pricing was tightened aggressively, buy-side support did not waver, said bankers.

Six Chinese real estate issuers — mostly high yield — flooded the dollar bond market on Monday with one to four year tenor deals. Investment grade rated China Vanke Co, on the other hand, tapped the longer end of the curve with a dual-tranche issuance.

China Construction Bank’s Singapore branch joined the offshore renminbi bond issuance party on Monday with a Rmb1bn ($142m) two year deal.

Do responsible investing, ESG and sustainable finance mean anything? If so, they must mean investors cannot buy Saudi Aramco’s IPO. When the world is desperately trying to cut carbon emissions, ploughing billions into a newly listed oil company is the definition of a backward step.

JP Morgan has bolstered coverage of India’s mid-cap companies, making three new hires to its commercial banking team in the country.

An undisclosed institutional investor in Malaysia’s MISC Berhad has raised MR565.6m ($136m) by selling some of its shares in the shipping company, giving buyers an extremely rare opportunity to gain exposure to it.