Banks

SSA names found the going varied in dollars on Tuesday, with the Inter-American Development Bank only just covering the minimum size of its tightly priced short end trade while Land NRW and L-Bank saw chunkier demand.

The European Investment Bank mandated banks for a sterling tap on Tuesday to keep supply running on course for a record year in the public sector bond market.

Greece took advantage of a significant rally in its government bonds to lock in its lower ever cost of funding on Tuesday.

Crédit Agricole has nabbed one of HSBC’s former sustainability bond leads to work on its sustainable financing team in Asia.

JP Morgan is growing its team dedicated to private equity capital markets transactions, as banks increasingly look to the space to make up for declining IPO volumes.

Muenchener Hypothekenbank (MuHyp) was set to issue a $600m three year Reg S dollar Pfandbrief on Tuesday, at close to the tightest levels seen this year and with exceptionally strong demand. The stellar outcome encouraged Lloyds Bank to announce a follow-on deal of its own.

Norway’s Yara has signed a $1.1bn-equivalent revolving credit facility, with the fertiliser company swapping its existing bank debt for a sustainability-linked deal.

Banca Monte dei Paschi di Siena, the ailing Italian bank, was offering a double digit yield in return for investment in a new €300m tier two on Tuesday, as it looked to chip away at its €700m shortfall in the asset class.

Eurochem, a fertiliser company registered in Switzerland, hit screens last week for a pair of rouble-denominated bonds, raising a combined Rb20bn at a level inside its curve.

The UK's Pension Insurance Corp has bought a £40m bond privately issued by Eildon Housing Association, a Scottish social housing provider.

Royal Bank of Canada and Credit Suisse turned to the euro market this week to launch bail-inable senior bonds, testing market conditions amid European earnings blackouts and before an expected break for the summer.

Chinese biopharmaceutical company Alphamab Oncology is planning to start sounding out investors for its Hong Kong IPO later this week, according to a source close to the transaction.