Banks

Zhenro Properties Group returned to the dollar bond market for the seventh time this year on Tuesday, tapping one of its March transactions for an additional $110m. But the market presented a whole different set of problems for the borrower this time round.

UniCredit has picked an internal candidate to be its global head of natural resources, choosing Eriks Atvars, currently global head of structured trade and export finance (STEF).

ING has launched the world’s first sustainability improvement derivative, a derivative with a credit spread that is linked to sustainability performance. The trade comes amid growing demand for environmental, social and governance derivatives products.

The Free Hanseatic City of Bremen priced a €750m 2049 trade on Tuesday, stretching out its curve by 10 years to become the second German SSA bond issuer in as many weeks to borrow for longer in able to offer a positive yield to investors.

UniCredit has hired a new head of trading for sovereigns, supranationals and agencies to its European government bond trading desk in Milan.

German housing company Gewobag has closed a Schuldschein in the next few days with well over €1bn of orders, in a transaction that could be the largest of this year so far.

Germany’s Dürr has signed a €750m sustainability-linked loan using blockchain technology, as the mechanical and plant engineering firm continues its push into sustainability refinancing that started with a green Schuldschein.

Participants in the financial institutions bond market had expected that issuers could hit screens with new transactions as early as this week, but so far macroeconomic and political uncertainty has discouraged them from putting investor appetite to the test this summer.

Volumes are growing across the spectrum in the Scandinavian MTN markets, as issuers and bankers return from their summer holidays. Meanwhile, bankers are expecting Scandinavian investors to move further out along the credit curve in response to negative yields as dovish Nordic central bank tones could lead to a bullish Scandinavian market.

Loans banker Daniel Chung is leaving Maybank Kim Eng to join CTBC Bank's Hong Kong team, according to sources.

Syndicated loans banker Marilyn Fung has joined Standard Chartered’s loan syndication team in Singapore.

Deutsche Bank has made more changes to its Asia investment bank, including job cuts and new postings for senior bankers, as it shifts the focus of its business.