Banks

Sunac China Holdings has raised a $280m loan term from five lenders.

Assa Abloy, the Swedish door maker, locked in €100m of long dated euro paper on Monday. The 15 year note, according to bankers, does not fit the Swedish issuer’s usual maturity profile, and is its first in the maturity since 2015.

Singapore Telecommunications (Singtel) enjoyed a rare outing in the dollar bond market on Tuesday, nabbing $750m. Morgan Davis reports.

Credit analysts at JP Morgan are urging investors to swap their euro bond holdings for similar deals in dollars, where they say there are ‘attractive opportunities to position for convergence’.

The Nordic corporate bond market may be starting to stir from its deep summer sleep, as Samhällsbyggnadsbolaget i Norden (SBB) revealed on Tuesday plans for a new issue. The Swedish housing and social infrastructure company, rated BBB-/BBB- (both stable), has announced a roadshow starting on August 23 for a seven year euro note.

The European Bank for Reconstruction and Development has hit screens with its debut trade linked to the secure overnight financing rate (Sofr), with the issuer the third in quick succession to mirror the coupon technique found in the Sonia bond market.

The World Bank has mandated for its first dollar benchmark of its fiscal year, as the issuer starts hacking away at its up to $60bn funding programme for the year.

The dollar SSA market was ablaze on Tuesday, with five deals on screen offering small new issue premiums and gaining chunky demand across the maturity curve.

KommuneKredit failed to set the market alight with the first euro syndicated public sector bond since mid-July, excluding deals from German Laender. The Danish agency only managed to sell €500m for the 11 year benchmark and was unable to tighten the spread during pricing.

Germany’s Bayer has agreed to sell its animal health business to US firm Elanco for $7.6bn in cash and equity. Analysts reckon this will be positive for Bayer's credit quality, after its litigation-shrouded Monsanto acquisition last year.

Ed Welsh will join HSBC in November as global head of business services, although his work is expected to be heavily centred around the UK, as the bank ramps up efforts to gain market share among the country’s biggest listed firms.

Macquarie’s Green Investment Group has secured debt financing to back its acquisition of a 40% stake in East Anglia One, in a deal that values the Iberdrola-owned wind farm at an enterprise value of £4.1bn.