Banks

China’s Wolong Electric Group is tapping the offshore market for the first time, seeking a €150m loan through sole lead bank Standard Chartered.

Corporate bond issuance in Europe has slowed, though demand remains strong, as evidenced by new issues on Monday for A2A, the Italian multi-utility, with a debut green bond, and Logicor, the warehouses group. Bankers expect appetite to remain steady but for the pace of issuance to be more sedate than in recent weeks.

Carsten Woehrn will lead JP Morgan’s financial sponsors group for M&A in Europe, the Middle East and Africa.

Oil and gas firm Ithaca Energy is to issue a new $700m unsecured bond as part of the financing for its acquisition of Chevron’s North Sea assets.

Italy has hired banks to tap its 2.8% March 2067 BTPs, as the week's supply of long term euro debt shows little sign of abating.

The Asian Development Bank is set to return with its second dollar benchmark of the year later this week.

Deutsche Bank has made deep cuts to its equity sales and trading business, as part of an aggressive restructuring plan. The bank has said it intends to retain a “focused equity capital markets business”, but in practice this means a significant retrenchment, with a strict focus on supporting Deutsche’s core clients in Europe and the US.

Sovereign, supranational and agency borrowers have started the week with a bang, and syndicate bankers say they do not expect any slowdown of issuance in the coming days.

KfW tapped its December 2025s for £300m on Monday, with the solid demand for the trade being seen as a good omen for the UK sovereign’s sterling linker tap expected this week.

Toronto Dominion opened order books on Monday for the third dollar benchmark covered bond from a Canadian issuer this year and, like the others, it has also chosen to issue a three year.

Two UK housing associations have hit the loan market, with Sovereign signing its first unsecured revolving credit facility and Hyde bringing two facilities totalling £350m.

Prime US real estate investment trust is on the road for a potential S$834.5m ($613.8m) listing on the Singapore Exchange, with over half of the units already taken up by cornerstone investors.