Banks

Indonesian palm oil producer Perkebunan Nusantara III has launched its debut offshore borrowing into general syndication.

Brazilian meatpacker Marfrig will meet US bond investors next week as it looks to take condition of plentiful demand for assets to finance a buy-back of existing bonds.

Chinese software company Duiba Group will complete its Hong Kong IPO after local markets close on Monday with bookrunners indicating a final price in the lower half of the guidance range.

China’s Car Inc is out with the terms of its new money offer, following the closing of an exchange offer for its existing 2020 notes.

Société Générale may have provided market participants with a glimpse into the future after becoming the first bank to issue a covered bond as a security token on a public blockchain. Development of this technology is still at an early stage and is not without its risks, but proponents believe blockchain could revolutionise the covered bond market, reducing settlement times to just a few seconds.

Swedish krona levels look attractive compared to euros, say bankers, leading to a raft of large deals being printed at the short end. Swedbank and Deutsche Pfandbriefbank both benefited from these levels when they printed covered bonds this week.

NatWest Markets made a loss in the first quarter, Royal Bank of Scotland said on Friday when presenting its results, partly thanks to it being made to account for the cost of old RBS plc debt. The group will also now stop including NatWest Markets when reporting its net interest margin, and one analyst said this could raise questions about commitment to the investment bank.

VakifBank is the latest Turkish bank to refinance its existing debt, managing to secure a roll-over ratio of 100%.

China International Capital Corp (CICC) priced a $1bn dual tranche bond transaction with the support of 15 banks on Thursday.

In this round-up, former Bank of China chairman Chen Siqing has been moved to be chairman of Industrial and Commercial Bank of China, China’s gross domestic product (GDP) grew 6.4% and the first batch of funds keen to invest in Shanghai tech board listing have received approval to do so

Chinese property developer Yango Group Co priced a $150m tap of a recent two year bond on Thursday at a level that 62.5bp inside where the original bond landed less than a month ago.

China’s Ascentage Pharma Group International has refiled a prospectus for its second attempt to list on the Hong Kong Stock Exchange (HKEX).