Banks

Nomura has brought on board Alexandra Tong from Citi to lead Greater China ECM origination and execution, according to an internal memo seen by GlobalCapital Asia on Tuesday.

Two Chinese local government financing vehicles (LGFVs) had contrasting responses to their dollar bonds on Monday. While a borrower from Tianjin pulled off its deal with enough anchor support, a Gansu province issuer faced some hiccups around pricing.

Chinese property management service provider Binjiang Service Group has tapped CLSA as the sponsor for its planned Hong Kong float.

China State Construction International Holdings’ (CSCI) $500m perpetual bond sale on Monday proved that investors still have an appetite for the structure — if the terms are right.

Taiwan Cement Corp printed a $400m convertible bond linked to the Taiwanese dollar on Monday, marking its first equity-linked issue in over a decade.

The African Development Bank mandated banks on Monday for the first green bond linked to the Secured Overnight Financing Rate, Sofr.

Neither ABN Amro nor Raiffeisen Bank International were hanging around after a brighter start for financial markets on Monday, with the duo using the opportunity to open books on new preferred senior transactions.

African Development Bank and Nederlandse Waterschapsbank hit screens on Monday for SRI bonds. Meanwhile, CPPIB Capital will aim to issue its first green bond in euros early next year, following the conclusion of a pan-European roadshow last month.

On Monday, French supermarkets group Carrefour made its second visit to the corporate bond market of 2018, once again in the wake of a period of volatility. However, the company’s timing proved to be good as it was able to tighten pricing 15bp from initial price thoughts.

Private school operator Cognita was the first borrower in a week to attempt an issue in the euro high yield market with a sub-benchmark size deal. It sought funding for its acquisition by Jacobs Holding, the Swiss investment and charitable firm, but pulled the bond deal after weak demand.

The Bank of Italy has said that it is concerned that the introduction of a new minimum requirement for own funds and eligible liabilities (MREL) could prove troublesome for the business operations of Italian banks, given their limited access to international bond markets.

A European interest rates and SSA strategist has left Citi after 13 years to join a US based asset management firm.