Banks

A smaller deal size, a high-profile cornerstone investor and plenty of early engagement with investors have put Budweiser Brewing Company Apac’s second attempt at a Hong Kong IPO on solid ground.

Azure Power Global pulled off an unusually large price tightening on its $350m green bond, which was buoyed by strong investor demand for a rare issuance from the Indian renewable energy sector.

Bajaj Finance’s share price surged on Wednesday after the Indian non-bank lender’s board of directors approved a potential billion-dollar fundraising.

Lai Sun Development, a Hong Kong-listed property developer and investor, has sealed a hugely popular HK$3.6bn ($460m) four year green loan to finance the Hong Kong Ocean Park Marriott Hotel.

Mapletree Industrial Trust raised S$400m ($290.6m) on Tuesday, becoming the latest in a growing line of trusts to tap Singapore’s equity capital market.

China’s Wolong Electric Group has closed its €150m debut offshore borrowing with 14 lenders.

No less than three dual tranche corporate bond deals hit the market on Tuesday, as BMW, Abertis, and AbbVie jostled for the attention of investors with €2bn, €1.5bn and €1.4bn deals.

L-Bank is preparing to issue a floating rate note linked to €STR, the recommended new risk-free rate in euros which the European Central Bank will begin publishing on October 2.

Fresh from the announcement of a new stimulus package by the European Central Bank last week, investors stormed into the euro public sector bond market on Tuesday, led by KfW and Bpifrance. The latter printed €1.25bn, equaling its biggest ever single issue. The strong momentum is set to continue with a string of mandates, including two supranationals for Wednesday.

The City of Gothenburg sold a new dual tranche green bond on Tuesday, raising a combined Skr1.8bn across fixed and floating rate tranches. The note was the first printed under its new updated green bond framework.

A brace of dollar deals came to the market on Tuesday, with Rentenbank and Council of Europe squeezing into the market for $1bn apiece amid high expectations of an impending rate cut as the US Federal Reserve meets.

The Netherlands Development Finance Company debuted the first offshore Bolivian boliviano bond last Friday. Meanwhile on Monday, French agency Caisse des Dépôts et Consignations again returned to the ultra-long end to place a pair of callable euro notes.