Banks

The European Investment Bank and FMS Wertmanagement sold well oversubscribed issues in the sterling SSA market on Tuesday before an expected quieter period for new issues in the currency next week as parliament votes on prime minister Theresa May’s revised Brexit deal.

Xylem has signed an $800m sustainability-linked revolving credit facility, claiming to be the first water technology company in the US to agree a deal using that structure.

John McFarlane, chair of Barclays, said on Monday that he hoped the EU would not turn its back on London in the Brexit negotiations. However, he expected financial activity to move out of London to Europe, and thought that — on a global scale — faster-growing economies in Asia and the US, and big technology firms, could reshape the financial industry.

Danske Bank is hoping to place its first issue of green bonds this month, though the market is still awaiting the findings of a series of investigations into money laundering at its branch in Estonia.

French demand outweighed interest from UK accounts in an additional tier one deal for the first time this week when Erste Bank sold a €500m bond that it had first planned nearly a year ago.

UK financial institutions are returning to the debt markets ahead of a fresh vote on the Brexit withdrawal agreement next week, with Lloyds Banking Group hitting the US market on Tuesday and HSBC Holdings turning to sterling after a dollar transaction earlier in the week.

Koç Holding opened books for a six year dollar benchmark, returning to the bond market for the first time in three years. While market participants said that initial price thoughts looked generous, they expected the spread to be tightened aggressively before pricing.

Bank of America's Asia Pacific head of equity capital markets syndicate Philip Wong resigned on Tuesday morning. He is set to join JP Morgan in the summer.

India’s InterGlobe Technologies (IGT) is tapping the international loan market for a debut $100m five year borrowing.

China’s Guotai Junan Securities Co double-dipped in the international market this week, raising $500m from the sale of a three year bullet on Monday before launching a three year euro-denominated trade on Tuesday to raise an additional €225m.

Hong Kong-based New World Development Co was able to find enough demand to cover a $500m ‘fixed-for-life’ perpetual bond, returning to a structure that lost attraction amid expectations about rising rates.

China Development Bank Financial Leasing Co (CDBL) has raised $700m from the bond market, leaning on anchor orders to squeeze a tight final price.