Banks

The State of North Rhine Westphalia sold an unusually large amount of debt in the SSA market on Wednesday through a dual tranche offering, with one of the bonds coming with a sustainable label.

Inchcape, the UK car dealer, has amended and extended its bank debt, and senior loans bankers have come out in favour of this early refinancing structure, though it is reviled in some parts of the market.

Qatar launched a long anticipated triple tranche dollar benchmark on Wednesday, hitting three parts of the curve for what may prove the largest emerging markets deal so far this year. The deal had gathered more than $35bn of orders before the US open.

Charles Pitts-Tucker has been promoted to international head of investment banking at Nomura, alongside a string of other moves at the Japanese bank.

A US pension fund has filed a class action suit against two of the banks suspected by the European Commission of breaching EU competition law in their trading of European government bonds between 2007 and 2012.

Export-Import Bank of India got away with paying no new issue premium on its $500m return to dollar bonds, despite rising tensions between India and Pakistan.

Hon Hai Precision Industry Co offered Asian investors a welcome change this week, bringing a rare single-A trade following a glut of high yield issuance this year.

India’s ReNew Power returned to the dollar market for a $375m bond on Tuesday, continuing its trend of using complicated deal structures to overcome strict regulations.

Indonesian textile company Delta Merlin Dunia Textile made its debut in the dollar bond market on Tuesday. But first it had to overcome a huge range of value estimates from investors.

China car dealership company China Yongda Automobiles Services Holdings has tapped the offshore market for first time, raising $250m after it sealed a Rmb800m ($123m) debut syndicated loan onshore last year.

NatWest Markets has made some hires in strategy across emerging markets, rates and foreign exchange.

SAIC-GMAC, one of the first issuers in China’s auto loan ABS market, returned with a Rmb10bn ($1.49bn) three-tranche transaction this week.