Banks

Citi is looking to strengthen its solo operations in China at the same time as seeking a new partner for a majority-owned securities joint venture, GlobalCapital Asia understands.

The Hong Kong real estate developer is coming to the Chinese onshore market for the first time. The deal is as much about the issuer getting familiar with the onshore bond market as it is about fundraising, GlobalRMB understands.

UniCredit’s German subsidiary, HVB, has announced plans to issue a seven year euro benchmark Pfandbrief, its first covered bond in over a year. At the same time Deutsche Pfandbriefbank (PBB) plans to issue a dollar benchmark three year Pfandbrief.

The $450m IPO of Kazatomprom, the Kazakh state-owned producer of natural uranium, is due to be priced at $11.60, the bottom of the initial range, valuing the business at $3bn.

Leveraged borrowers Adb Safegate and Groupe Ecore had active euro roadshows for floating rate debt, keeping the leveraged finance markets open this week.

The Flemish Community of Belgium was twice covered for its debut sustainability bond on Monday, following the completion of a pan-European roadshow last week. Meanwhile, Bank Nederlandse Gemeenten has added to the SRI pipeline after mandating banks for its second sustainability trade of the year.

After Volkswagen printed the biggest trade in its history the previous week, the company’s International Finance arm sold a six tranche dual-currency deal on Monday. In total, the company raised more than €14bn equivalent in a week.

Spain’s Red Electrica Corporation has signed the first ever syndicated loan on a blockchain, though some loans officials away from the deal question how useful the technology will be in its goal of reducing transaction times.

The Seychelles’ $15m blue bond, issued last month to finance sustainability improvements to its maritime economy, was designed to satisfy all the needs of socially responsible investors and could therefore be used as a template, according to bankers at Standard Chartered who worked on the deal.

Emirates NBD is set to return to the dollar market, picking banks for a five year benchmark. The trade will be joined in the market by a dollar bond from UAE-based private healthcare provider.

The Hong Kong arm of China’s Founder Securities priced a small two year bond on Friday, in a deal that saw the syndicate group rejigged significantly since the mandate announcement in mid-October.

Singapore’s Interplex Holdings pulled its planned debut dollar bond sale on Friday.