Banks

Swedish Export Credit Corp has set the terms on a $650m December 2020 floating rate note, increasing the size of its trade amid sharp volatility in the US rates market on the prospect of dovish policy action from the Federal Reserve.

The first syndicated loan amendment to add language allowing the pricing benchmark to switch from Libor to the secured overnight funding rate (Sofr) has been launched.

Iceland plans to defrost its euro curve with a new syndicated issue, its first since December 2017.

Magnitogorsk Iron and Steel Works (MMK), the second largest steel producer in Russia, released price guidance for a $500m five year bond on Wednesday at a level that one EM investor said looked “interesting”.

Barclays has named Fater Belbachir as its new global head of equities, to lead its equities business across cash and derivatives, as well as its prime and syndicate segments.

Investors piled into Guangdong Energy Group’s inaugural offshore bond issue, allowing the single-A rated power supplier to price the trade from an over eight times covered order book.

Dennis Eisele will become Credit Suisse’s head of Latin American debt capital markets in August after he ended a 19 year stint Deutsche Bank, according to an internal memo seen by GlobalCapital.

Dongfeng Nissan sold its 13th Chinese auto loan ABS, a Rmb4.3bn ($621m) three-tranche note, on June 13. Both senior tranches were priced 25bp higher than the issuer's previous deal.

Ping An Insurance (Group) Co of China raised $400m from a bond sold through its real estate business on Tuesday. While the deal carried the weight of the Ping An name, the issuer’s aggressive pricing strategy scared some investors off.

Warburg Pincus-backed logistics manager ESR Cayman opened books on Wednesday for what will be the biggest float in Hong Kong so far this year.

After 10 days of very scanty issuance and some weak markets, more stable conditions on Tuesday brought a salvo of five deals to the euro corporate bond market, offering a wide range of single-A and triple-B credits.

The State of Schleswig-Holstein returned to the market with a 10 year note on Tuesday. Meanwhile, KfW has announced a new five year euro deal, following on from January’s record KfW book for the maturity.