Banks

KfW mandated banks on Monday for the first euro benchmark in the public sector market from a supranational or agency in two weeks.

Österreichische Kontrollbank will complete its benchmark funding for the year with a no-grow $1bn five year. Meanwhile, Erste Abwicklungsanstalt has lined up its second dollar deal of the year in the three year part of the curve.

France’s AccorHotels has bought its Paris head office for €363m, drawing on a new green loan to finance the acquisition.

Belgium’s Ravago has amended and restated €1.65bn equivalent of syndicated loans, with an oversubscribed order book allowing the industrial materials company to increase the size of the deal.

The European Stability Mechanism’s second ever dollar benchmark scored an overall average of 6.83 on BondMarker, amid a general trend of lower scores from public sector borrowers.

The price of Italian bank shares and bonds rose on Monday morning after local media reported that the government was weighing up extraordinary measures to help the embattled lenders. The next few weeks are crucial for the banks, with the release of stress test results and third quarter earnings.

Bahrain’s Oil and Gas Holding Company (Nogaholding) is expected to open books on a dual tranche dollar bond as soon as Wednesday, in the country’s first test of debt markets since the government received $10bn in support from its neighbours.

HSBC recorded better profitability and higher revenues at the group level for the first nine months of 2018, with Asia continuing to play a key role. But the bank’s global markets business took a hit.

State Bank of India has mandated seven banks for a $500m offshore borrowing, returning to the market just two months after closing its last facility.

China Merchants Loscam has closed a $302m dual-currency club loan, making a comeback to the offshore market after a five-year absence.

Four mainland technology companies kicked off pre-deal investor education for their Hong Kong IPOs on Monday, gauging the market’s appetite ahead of bookbuilding in early November, according to sources close to the listings.

360 Finance has filed for a $200m IPO on the New York Stock Exchange through Citi and Goldman Sachs.