Banks

JP Morgan has shuffled around its EMEA top team as it looks to position itself for a UK M&A splurge.

Suning Appliance Group has added $235m to its coffers with a bond tap, capturing one of the last windows for issuance ahead of the shut-down of Asia’s bond markets for the Chinese New Year holiday.

Are Asian investors ready to embrace duration again? Oil India and Siam Commercial Bank (SCB) proved there is clear demand, rolling out a pair of 10 year bonds on Tuesday. SCB also added a five year tranche.

Indonesian power company Lestari Banten Energi priced a $775m project bond on Tuesday, sealing the first such Asian deal of the year after months of preparation.

Macau casino operator Studio City Finance raised $600m from a deal that was priced right around fair value, funding a tender offer. There could be more bonds from the company in 2019.

Larsen and Toubro has kicked off a two-day offer-for-sale in subsidiary L&T Technology Services, eyeing proceeds of up to Rp9bn ($126.3m).

Nio, the Chinese electric car company, has launched bookbuilding for a convertible bond that will be worth as much as $650m, according to a source close to the deal.

Comexposium, the French exhibitions group, has raised new debt to finance Crédit Agricole Assurances’ purchase of a majority stake from Charterhouse Capital Partners.

Kommunalbanken took advantage of being the sole SSA issuer in dollars on Tuesday as it was more than twice subscribed and tightened pricing on its first dollar benchmark of the year. Concerns over volatility from this week’s US Federal Open Market Committee meeting and non-farm payrolls kept some other issuers on the sidelines, said SSA bankers — although two are braving Wednesday’s market.

KfW brought yet another record breaking trade to the SSA market in 2019, printing a five year euro benchmark whose order book volume was an all-time high for the issuer.

Siberian Coal Energy Co (Suek) is set to tap the market to refinance an existing pre-export credit facility, according to bankers. The borrower is usually one of the first Russian names in the market, and is notable for its robust liquidity position.

Greece’s highly anticipated return to the public bond markets on Tuesday met with a strong reception from investors. With up to €4.5bn more of benchmark bonds to issue in 2019, Greece is expected to return to the markets for a second syndication this year, which bankers say could be in the 10 year part of the curve. Cyprus will look to follow up on Greece’s success after setting out plans to roadshow a euro transaction in February.