Banks

Dongfeng Nissan Auto Finance, a joint venture between Japanese carmaker Nissan Motor and Chinese automaker Dongfeng Motor, will return to the Chinese auto loan ABS market on November 5 for its third deal of the year. The Rmb6.5bn ($920m) four-tranche note will be the issuer’s largest outing to date.

The Swedish krona MTN market’s bumper year received a further boost as nuclear power plant operator Teollisuuden Voima Oy (TVO) returned to the MTN market for the first time in five years to place a pair of notes in the currency. However, the return may be short lived, as TVO has plenty of access to cash and will take an opportunistic approach to future issuance.

US pharmaceuticals firm Eli Lilly headed out into the euro market on Tuesday for a €1.6bn dual tranche trade, which will partially finance a tender offer on dollar debt.

Deutsche Bank plans to sell a structured conditional pass-through (CPT) covered bond that is packed with commercial mortgages and has a double-A rating. The collateral-efficient funding makes perfect sense for the issuer and, in a negative yield environment, it could also potentially be interesting for certain investors.

Spanish pharmaceutical company Grifols is planning to take advantage of balmy market conditions with a refinancing package that will replace most of its outstanding debt. The package will consist of a $3bn term loan B in dollars, a $1.6bn TLB in euros and $1.25bn of senior secured bonds issued in euros.

Norway’s Ferde has launched a Nkr2bn (€194m) triple part floating rate green bond, with the toll operator cruising past its minimum amount target.

Wholesale revenue increased in Nomura for Europe, the Middle East and Africa in the most recent quarter, the bank said on Tuesday, helped by a sturdy rates business.

Triple Point Social Housing REIT has almost doubled the size of its sterling revolving credit facility, as UK housing firms continue to shore up funding during Brexit uncertainty.

UniCredit’s search for a more efficient corporate structure shows how an incomplete Banking Union is beginning to weigh on pan-European financial institutions.

Finnish agency Municipality Finance has faced a decline in callable MTN issuance this year as investors shun the format and move “more and more towards benchmarks with greater liquidity”, according to funding manager Martin Svedholm.

Australian banking group Macquarie is closing its cash equities business in Europe and the United States and has signed a cooperation agreement partnership with Kepler Cheuvreux, the French brokerage.

Skandinaviska Enskilda Banken (SEB) refrained from pushing into record territory with the coupon on its new dollar-denominated AT1 on Tuesday, as European banks begin testing new lows for yields in the asset class.