Banks

The European Investment Bank printed a $1bn three year floating rate note linked to the secured overnight financing rate (Sofr) with a coupon structure that mirrors Sonia this week, as the market still tries to find a standard method for the dollar Libor replacement.

CaixaBank was able to attract orders of more than €3.85bn for the issuance of its seven year senior non preferred bond on Tuesday, more than three times the deal size.

Caisse des Dépôts et Consignations (CDC) on Tuesday came to market with its debut sustainable bond, the first under its new green, social and sustainable framework.

Oberbank sold a senior bond in euros on Wednesday, following in the footsteps of NatWest Markets, Luminor Bank and Svenska Handelsbanken, which on Tuesday also issued senior deals. NatWest attracted the largest order book for its floating rate notes.

The UK’s NCC Group has renewed its £100m revolving credit facility to stretch out the maturity, as loans bankers say the pipeline is looking bleak at the halfway point of the year.

Euro and dollar benchmarks issued by Nordea, Lloyds, Korea Housing Finance Corporation (KHFC) and SMBC on Tuesday was a fillip for covered bond market participants suffering through volatile credit market conditions that have caused price expectations to fall.

The CEEMEA region is lining up one of its busiest fortnights of the year for bond issuance as Black Sea Trade and Development Bank and the Republics of Serbia, Croatia and Lithuania join a swathe of EM issuers already on the road. JP Morgan looks to be solidifying its position at the top of the CEEMEA league tables — it has been picked for every one of the deals mandated on Tuesday.

Emirates National Oil Company (ENOC) has raised a $690m loan from an exclusively Chinese syndicate, a rare event rare for the region.

Huatai Securities, the Chinese brokerage, has set the price range for its $1.65bn sale of global depositary receipts on the London Stock Exchange, enticing investors with a healthy discount to the Shanghai-listed A shares.

Hutchison China MediTech (Chi-Med) is looking to launch bookbuilding for its Hong Kong listing as early as June 21 for proceeds of around $600m, according to a source close to the deal.

Inalfa Roof Systems Group, a Netherlands-based car roof system supplier owned by Beijing Hainachuan Automotive Parts, is tapping Asian liquidity for a €200m loan.

Guangzhou R&F Properties Co was back in the dollar market on Monday, tapping its 8.125% 2023 bond at a generous premium in what was its fifth offshore outing this year.