Banks

The Estonian Financial Services Authority this week ordered Danske Bank to leave the country. The Danish lender replied that it would exit the Baltics and Russia as a whole. Meanwhile, the Estonian regulator and its Danish counterpart are under investigation for a possible breach of European Union law in relation to Danske’s money laundering scandal.

The Arab Republic of Egypt has released initial price guidance for its triple tranche bond at levels that have caught investors’ attention. A large deal is expected.

Mashreqbank printed its $500m five year dollar bond on Tuesday, with orders for the deal topping $1.8bn and leads reporting strong Asian demand for the note.

A flood of orders helped ING Groep to price a $1.25bn additional tier one on top of fair value on Tuesday, with the Reg S dollar market back in action after Banco Santander’s landmark extension decision.

Société Générale has put six of its London-based equity capital markets bankers "at risk" as the French bank looks to streamline its business by consolidating it in Paris.

Ronshine China Holdings priced the new money portion of its exchange offer after building an order book that covered the deal almost 16 times over. The liability management exercise helped the issuer close the gap between its curve and that of similarly-rated Chinese property developer peers.

China Forestry Group has returned to the offshore market, raising its second international loan through a Singaporean subsidiary.

The controlling shareholders of India’s Emami Group sold a 10% stake in the company to pay off debt this week.

Yuzhou Properties Co sold its third dollar bond deal of the year this week, bringing its total issuance for 2019 to $1.5bn.

China’s Jinxin Fertility Group is planning to float on the Hong Kong Stock Exchange, according to a draft prospectus submitted to the bourse.

Seven of the 10 most climate-friendly European equity funds are from France, according to rating agency Climetrics, in a document seen by GlobalCapital.

The Republic of Cyprus has come to market for a euro Reg S benchmark, looking to follow up on its record breaking effort in late 2018 and extend its curve from 10 to 15 years.