Banks

Two new corporate bond issues hit the market on Friday, wrapping up the busiest week of the year, in which nearly €22bn of new notes have been printed. Despite the frantic activity, investors have been willing to lend, though companies may have had to pay larger new issue premiums.

A new sustainable finance product, which has the potential for huge growth, was launched on Thursday when Enel, the Italian electricity and gas company, issued the first bond in which the interest rate can be altered during the term of the debt, based on the borrower’s sustainability performance.

Arié Boleslawski has joined Natixis to run its equities business.

The Netherlands Development Finance Company (FMO), made its Uzbekistani som debut this week to take advantage of funds flowing into EM currencies thanks to low rates in dollars. Elsewhere, euro investors are looking at the ultra-long end of the SSA market.

South Korean energy company SK E&S Co has bagged HK$5.1bn ($650.7m) after selling a block of shares in China Gas Holdings, a source close to the deal told GlobalCapital Asia.

Indorama Ventures Public Co sold its first dollar bond on Thursday. While unrated, the company’s rarity value appealed with investors.

Power Finance Corp gathered a peak book of $4bn for its $750m dual-tranche bond issuance, allowing it to sell the notes at tighter-than-expected levels.

Indian renewables company ReNew Power took home $300m from a bond that appealed to a niche, but captive, investor base.

Six Greater China borrowers, including Industrial and Commercial Bank of China (Macau) and an unrated property developer, have wooed bond investors to their new dollar deals.

India's Bajaj Finance has hired banks to run a potential qualified institutional placement (QIP) of around $1bn, according to a source familiar with the matter.

China’s Youyuan International Holdings, a wrapping tissue paper maker, has defaulted on a total of HK$2.6bn ($332m) of debt, including a $135m loan sealed in April.

Credit Suisse has brought in Mark Uy to lead coverage of investment banking and capital markets in the Philippines, according to a source familiar with the matter.