Banks

Ecobank Transnational Inc, the pan-African bank based in Togo, tapped a $500m 9.5% 2024 bond it issued in April for a further $50m on Tuesday. But despite the note being printed flat to the outstanding, according to leads, and the original bond having rallied over 150bp in yield since pricing a month ago, the tap brought the deal in by another 25bp in secondary trading.

A pair of agencies raised funding in Australian dollars on Thursday: Export Development Canada and Eurofima both tapped Kangaroos.

Siberian Coal Energy Co (Suek) is set to finally close a loan refinancing next week after a lengthy syndication process that bankers close to the deal blame on a growing number of lenders declining to finance coal-burning activities.

Portugal sold its long-awaited debut Panda bond on Thursday, becoming just the third European sovereign and the first from the eurozone to tap China’s bond market.

Louis Dreyfus Co, the Dutch-based agricultural commodities trader, has renewed its $750m North American bank credit line, and become the latest company to add a sustainability-linked element to its revolving credit facility.

China East Education Holdings has launched bookbuilding for its potential HK$5.3bn ($681m) IPO.

Emerging markets credit traders Vivek Mittal and Vikramdeep Gill have departed Deutsche Bank.

GeoProMining Group, a mining company operating in Russia and Armenia, announced its first ever bond on Thursday — a Reg S dollar five year.

Kuwait International Bank (KIB) made a spectacular bond market debut on Wednesday, securing a $4.6bn book for a $300m additional tier one sukuk bond. The issuer also impressed by placing 51% of the paper with investors from outside the Middle East region.

Isabel Martin Vazquez, a former supranational, sovereign and agency and emerging markets debt capital markets banker at Barclays, has joined Spanish advisory firm Didendum as a partner, to lead an expansion of its business from London.

South Korean oil refiner GS Caltex Corp raised $300m from a senior bond on Wednesday.

Hansoh Pharmaceutical Group kicked off the roadshow for its Hong Kong listing this week, with up to HK$7.9bn ($1bn) of proceeds in its sights. The deal got off to a strong start with the help of a cornerstone group that included Singapore’s sovereign wealth fund, as well as an early turnout from international institutions. Jonathan Breen reports.