Banks

Finland’s SRV Group has extended its €100m revolving credit facility, as full refinancing operations remain elusive in what is proving to be a tough loans market in EMEA this year.

The Russian Federation is to increase its its 2029 and 2035 dollar bonds as the risk of further US sanctions against the country recedes and the prospect of lower of US interest rates has increased demand for the debt.

The Republic of Serbia’s first international bond for six years took advantage of a wave of bond buying, after European Central Bank President Mario Draghi’s comments earlier this week signalled a growing chance of eurozone rate cuts.

DCM bankers say that market conditions are just right for some of Europe’s smaller and more marginalised financial institutions to bring new bond deals ahead of the summer.

China’s recent measures to curb local government debt by restricting new offshore issuance from their financing vehicles led to one of the busiest weeks for the sector, as companies raced to beat the June 30 deadline when their regulatory quotas expire, writes Addison Gong.

An innovative senior bond sold by UniCredit this week showed how blurred the lines have become between what is up for grabs in a resolution and what is not.

Chinese video-based social media platform YY pocketed $850m from a well-timed dual-tranche convertible bond. The deal — launched after repeated indications of interest in US-listed stocks — landed on a burst of risk appetite that followed US president Donald Trump’s tweet confirming his meeting with Chinese leader Xi Jinping at the G20 gathering in Japan next week. Jonathan Breen reports.

Tata Capital Housing Finance has joined a growing number of India’s non-banking financial companies (NBFCs) tapping the offshore loan market to take advantage of cheaper funding.

Thailand saw a burst of block trades this week as Singapore’s sovereign wealth fund cleaned up its position in local property developer Land & Houses and BTS Group Holdings sold a chunk of VGI Global Media stock.

Agrana, a food producer headquartered in Vienna, is marketing a Schuldschein where its floating notes are some 20bp inside the fixed note offering. Two market participants said they had never seen this before.

Former Crédit Agricole banker Christoph Paul has been appointed by Mizuho Securities.

Peking University Founder Group Co raised $250m in a two year bond trade on Wednesday, using up the last of its offshore issuance quota, and shaking off investor concerns about its ongoing litigation.