Banks

KfW and SFIL printed $4.25bn of debt on Tuesday, with both deals looking as if they paid a few basis points over fair value. That marks a return to new issue premiums in the dollar market for sovereigns, supranationals and agencies.

BBVA has hired a former MTN banker at Santander as a director in its liability management team.

The Arabian Centres Co, a Saudi Arabian owner and operator of shopping centres, has launched a listing on the Saudi stock exchange.

Nexi, the Italian payments company, has fallen by almost 8% on its first day of trading after its Milan IPO last week. High volume selling at the beginning of the day has hurt the stock.

Warner Music Group has launched a €195m add-on to its 2.625% 2026 notes, originally printed as a €250m deal as the market deteriorated in October last year. It plans to use the new funds to refinance its 2022 notes.

Goldman Sachs said that its equity underwriting pipeline swelled during the first quarter, with IPO interest rising among technology companies.

The Islamic Development Bank has announced initial price thoughts for a five year sukuk dollar bond — its first since a euro benchmark in November 2018.

First Abu Dhabi Bank has printed two sterling private placements in the last week — the most recent Tuesday morning’s £120m note through JP Morgan — adding to a flurry of sterling trades from the Middle East.

Another day, another Santander call option. The bank revealed this week that it will call its 6.375% $1.5bn additional tier one perpetual note. In February it became the first bank ever to extend the life of an AT1, but its move this week gave market participants better insight into how it is likely to treat call decisions.

Toronto-Dominion Bank has become the first Canadian issuer to launch a bail-inable senior bond publicly in euros, impressing on-looking bankers by landing the deal with a very tight spread to mid-swaps.

More banks have joined the acquisition loan for the Triton consortium’s buy-out of UK-based satellite tech provider Inmarsat, ahead of Tuesday’s deadline to make a firm offer for the company.

Metalloinvest, the Russian steel maker, has signed a sustainability-linked bilateral credit line with ING. It is one of the first sustainability-linked loans for a Russian borrower and comes as ING continues its drive to expand in this area.