Banks

Sovcombank was in the market on Monday morning with a subordinated bond, just 10 days after the issuer’s credit rating was upgraded by two major ratings agencies.

An explosion of international issuance in yen is being accompanied by a re-evaluation of traditional routes of access into Japanese capital markets. Euroyen deals and Tokyo Pro-Bonds are rapidly establishing themselves as viable alternatives to the Samurai bond market. Tyler Davies reports.

The risks associated with issuing at negative yields will drive non-European issuers away from the euro covered bond market, according to a report from NordLB.

Nick Villiers has a new job leading a sustainable finance hub at Cambridge University. He was previously at Credit Suisse.

German car parts maker ZF Friedrichshafen has closed its Schuldschein and agreed to take just over €2bn, according to market sources. Schuldschein participants believe this demonstrates the private market’s ability to compete with its public equivalents.

JS Global Lifestyle Co, a Hong Kong-based maker of small household appliances, has passed the final stage of its pre-IPO process, winning approval to list from the Hong Kong Stock Exchange.

Asset World Corp, the property and hospitality firm, has raised Bt48bn ($1.57bn) from Thailand’s largest IPO by a private company.

SoftwareOne Holding, the KKR-backed IT services company, launched its IPO on the SIX Swiss Exchange on Monday.

Eddie Wong, a director of loan syndications, has left ING after over a year.

Chinese health and wellness solutions provider Ecmoho is planning to float on the Nasdaq and is targeting proceeds of up to $150m.

Barclays is paying $6.3m to US authorities to settle charges that it won business from foreign government officials by offering their relatives and friends internships and jobs.

Zhongliang Holdings Group Co, the Chinese high yield property company, returned to the dollar bond market on Friday, adding $100m to its coffers in a tap of its maiden 2021 bonds, issued only the week before.