Banks

Municipality Finance (Muni Fin) printed a $1bn no-grow short five year bond on Wednesday, joining World Bank at the tenor in a dollar market that bankers said has offered something for everyone this week.

Risk appetite in the equity blocks market in Europe has improved significantly, according to market sources, and a UK biomedical research charity is the latest vendor to take advantage of the better conditions by offloading a chunk of its stake in Syncona, the FTSE 250 life sciences investment company.

Unédic priced through fair value for its first bond of the year on Wednesday, as the European Central Bank’s announcement of fresh liquidity supercharged an already red hot euro SSA market. African Development Bank will hope to find similar success in the 10 year part of the curve after mandating banks for its first benchmark of the year.

Both Kommunalbanken (KBN) and the International Finance Corporation (IFC) came to the Kangaroo market this week. A need for long dated Australian dollar paper from Japanese investors drove the deals.

The Republic of Ghana has picked banks for a bond deal and tender offer, preparing to become sub-Saharan Africa’s first sovereign issuer of the year. Benin is also believed to be eyeing a debut in the international bond market.

Emirates NBD came to market for its first additional tier one bond on Wednesday morning, printing what what data suggests is the Middle East’s largest ever deal in the format.

United Overseas Bank has made its first appearance in the Panda bond market, selling a Rmb2bn ($297.8m) three year deal.

Chinese developer Guorui Properties is on track to redeem a puttable dollar bond later this month after pricing a new $295m transaction, bringing an end to debt refinancing woes that have lasting for months.

Up Fintech, parent of online trading platform Tiger Brokers, has launched bookbuilding for a smaller-than-expected $91m IPO.

China’s industrial gas supplier Yingde Gases Group has launched a $300m borrowing into general syndication.

Fosun International has returned to the offshore loan market with a $300m dual-currency borrowing.

A week after BMW debuted in the Panda market with a Rmb3bn ($447m) three year private placement, its onshore financing arm, BMW Automotive Finance, returned to more familiar territory with a Rmb5.5bn auto loan ABS.