Banks

Two Chinese companies tapped dollar bond investors on Monday. One of the most active issuers this year, Zhenro Properties Group, came out with an aggressively priced $300m transaction, while a district-level government financing vehicle sold its debut offshore deal.

Chinese game developer CMGE Technology Group has filed an IPO prospectus with Hong Kong’s stock exchange for the third time and is confident about listing this year.

Korea Development Bank made a billion-dollar outing in the global bond market, and got away with offering very little premium to investors wooed by its safe haven status.

Chinese e-commerce platform Pinduoduo has opened books for a convertible bond backed by its American Depository Shares, in what has become an increasingly popular corner of the equity-linked market.

Ronshine China Holdings, a Hong Kong-listed company, has teamed up with a syndicate of banks for a HK$815.5m ($104m) three year loan.

The Province of British Columbia has weathered volatility from the fallout of last week's meeting of the US Federal Reserve to return to the dollar market for the first time in four years. Another rare SSA issuer, IDB Invest, also plans a return to the dollar market, with investor calls set up for this week ahead of its five year debut.

Lead managers had to step in to help Nederlandse Waterschapsbank (NWB) raise €500m with a 15 year water bond on Monday, though a banker on the deal said that there had been strong demand for the transaction from ESG investors.

Bank of America Merrill Lynch has made a pair of senior appointments within its European Union equities business in Paris.

Société Générale has reshuffled its equity capital markets team, moving multiple managing directors to new roles.

ITV, the UK television company, expects to buy back about €506m of its 2022 and 2023 bonds in a tender offer, days after pricing fresh bonds.

Germany’s Henkel, a chemical and consumer goods company, launched a dual tranche sterling bond on Monday, as bankers said the busy high grade market was showing signs of saturation.

Standard Bank is set to raise at least $500m by the end of the year, the latest in a series of loans raised by South African banks in the past few months. The deal is expected to have tighter margins than its previous deals, according to market sources.