Banks

Mubadala Development Company printed its $800m 10 year bond on Wednesday, refinancing its tendered 2021s and 2022s and taking a minimal amount of new money in the process. But the new issue premium paid is under debate.

Green loans have been tipped to soar in popularity in a similar way their bond market counterparts did, with lenders hoping to get traction among borrowers unable to access public market investors.

Finland’s Ahlstrom-Munksjö has signed $1.09bn-equivalent in acquisition and backstop facilities, as the fibre materials company prepares to buy US paper producer Expera Specialty Solutions.

Nogaholding sold its $1bn dual tranche bond on Wednesday from a book of around $2.5bn, demonstrating Bahrain borrowers’ access to the bond markets after the country’s bailout from its Gulf Co-operation Council neighbours in October.

Stability of foreign currency funding is a priority for Sumitomo Mitsui Banking Corporation and covered bonds provide a new level of balance in this regard, according to the bank’s head of treasury. Since other borrowers in Japan are sure to be thinking along the same lines, the market for Japan's covered bond is likely to have tremendous scope for growth.

Islamic Development Bank launched its first euro benchmark on Wednesday, raising €650m with a five year bond.

Two Chinese companies, Guodong Network Communications and Bestway Global Holding, have ventured out for their maiden loans, seeking €150m ($170m) and $150m respectively.

Jaguar Land Rover, owned by India’s Tata Motors, has returned for a $1bn loan, just months after closing a smaller £640m ($839m) dual-tranche facility.

BNP Paribas has seen two senior changes in its Asia business recently, according to multiple sources close to the situation.

Wire and cable manufacturer Polycab India is planning an IPO of new and existing stock, as backer International Finance Corp looks to cash in part of its stake.

China National Bluestar (Group) Co paid a handsome new issue premium for a $300m senior perpetual bond amid weak sentiment for the structure, as its deal caused a widening in the broader Chinese senior perp market.

India’s Rural Electrification Corp pushed into the US market on Wednesday with its first 144A deal, to diversify its investor base. The power financing company decided to keep the $700m deal to one tranche and opted to leave some premium for investors.