Banks
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US-property backed Eagle Hospitality Trust has begun bookbuilding for its Singapore listing, looking to float for a market capitalisation of up to S$957.4m ($703m). -
Profit Reach International, an investment vehicle owned by Chinese billionaire Shen Guojun, has closed a $550m refinancing, attracting 12 participants during syndication.
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China Forestry International Resources (CFIR) is struggling to obtain its lenders’ consent for a covenant waiver on a loan from 2017. The covenant was breached when CFIR’s state-owned parent, China Forestry Group, provided a guarantee for a $150m deal for another subsidiary launched in February.
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Latin American bond buyers finally had some proper supply to soak up demand after two weeks without the kind of paper that tends to attract EM investors.
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Deutsche Bank and Commerzbank will have to sort themselves out without the help of each other, after merger talks collapsed this week. Speculation mounted as to whether Deutsche would now be forced to slash its investment banking operations, and about whether Commerzbank would be embraced by another European peer.
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Santander creates new sales role — Barclays origination banker leaves — Algomi co-founder helps another fintech
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Crédit Agricole has become the latest European bank to tap into strong demand for long-dated covered bonds in euros, raising €1.25bn of 15 year funding on Wednesday without paying a new issue premium to investors.
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Guarantor: Kingdom of Belgium (51.41%), Republic of France (45.59%) and Grand Duchy of Luxembourg (3.00%)
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Rare issuer British Columbia returned to the MTN market this week with its first euro paper since January 2017, in two installments. MTN dealers reckon conditions are favourable for Canadian issuers.
