Banks

Peru’s return to dollar bond markets after four years on Thursday saw it clinch its lowest ever yield and price flat to or even inside its better rated neighbour Chile. Yet so sought after is Peru’s hard currency paper that the government is having a tough time persuading bondholders to let go.

Toronto Dominion Bank has become only the second borrower from outside of the UK to sell a Sonia-linked covered bond, having quickly met enough orders on Monday to launch a £1bn offering in the sterling market.

Financial institutions piled most of this week's debt supply into a busy Monday session, with BPCE, Crédit Agricole, Credit Suisse and KBC Group all launching senior deals for the minimum requirement for own funds and eligible liabilities (MREL) at the same time. All four lenders came close to fair value for their offerings.

Rail Cargo Austria, the railway cargo subsidiary of Austrian railways operator ÖBB Holding, entered the Schuldschein market on Monday for a minimum of €100m.

Saudi Arabian banks Alawwal Bank and Saudi British Bank have completed their merger. The deal is yet another bank tie-up taking place in the Gulf, as lenders strive to stay competitive. Royal Bank of Scotland, which held a stake in Alawwal, has received capital relief from the transaction.

The Republic of Angola has signed a €1bn credit line from Deutsche Bank to fund private investment projects in the country. The deal is part of a wider trend of increasing funding support for the country’s growing private sector.

Emerging market bankers forecasted on Monday a spate of deals from across the EMEA region due this week, as Sharjah Islamic Bank joined the fray with a sukuk mandate that will begin with a spell of investor meetings.

China’s Kingboard Chemical Holdings has returned to the loan market for a HK$5bn ($638.7m) facility, a year after sealing a larger deal.

China’s Ascentage Pharma Group International and CIMC Vehicles kicked off pre-marketing for their respective Hong Kong IPOs on Monday. Both are expected to launch bookbuilding by the end of June.

Packing company Dynapack Asia is tapping the loan market for the first time, seeking a S$250m ($182m) borrowing.

Singapore’s sovereign wealth fund GIC has bagged Bt9.1bn ($290.7m) after offloading its position in Thai property developer Land & Houses, according to a source close to the deal.

Five senior members of ING's emerging markets and loans teams in London have left the bank, according to sources close to the matter, as part of the bank's broader restructuring of its debt capital markets and advisory operations.