Banks

Crédit Agricole said it could start to unwind the ‘switch 2’ capital guarantee provided by its regional banking network in 2020 after it revealed a small boost to its common equity tier one (CET1) ratio in its second quarter results on Friday. Meanwhile, capital markets and investment banking operations did not perform well over the quarter.

Luxury sports car company Ferrari has sold €300m of US private placement notes, according to an SEC filing on Friday. Its debut offering is one of only a handful of transactions from the auto sector to reach the market.

Corporate borrowing activity is expected to be sustained throughout the second half of the year as borrowers "take advantage" of the liquidity in the loan market. The expectation comes in the aftermath of two large dividend recapitalisation transactions by Polish corporates, Allegro and Żabka, in the second quarter.

Indian microloan provider Spandana Sphoorty Financial kicked off a two-day bookbuilding for its up to Rp12.01bn ($169.9m) IPO on Monday morning.

China Lesso Group Holding has launched a $900m four year borrowing into general syndication.

The Republic of the Philippines took advantage of Japanese investors’ hunger for yield with a tightly priced four-tranche ¥92bn ($863.4m) Samurai bond.

The World Bank is preparing to reopen its 'blockchain offered new debt instrument', or bond-i for short, as it looks to market the Australian dollar deal to a more international audience.

Profits at Natixis’s corporate and investment bank fell sharply in the second quarter after provisions for credit losses tripled, it showed in results released after market close on Thursday. The bank was also keen to display its sustainable finance initiatives.

International investors this week enthusiastically bought a $500m ‘sustainable transition bond’ issued by Marfrig, the second biggest Brazilian beef producer. The deal highlighted its efforts to make its supply chain more sustainable. But Greenpeace, the environmental NGO, argues it is impossible to be sure the supply chain does not include harmful practices.

CapitaLand Retail China Trust raised S$154.3m ($112.6m) on Thursday from a placement of new units, done alongside a preferential offering to existing shareholders.

Central China Real Estate and Shandong Chenming Paper Holdings have raised a combined $463m from dollar bond investors amid a weak market backdrop.

Credit Suisse has appointed Le Hoai Nam to lead its Vietnam investment banking and capital markets coverage, according to a source familiar with the matter.