Banks

TechnipFMC, the French-US energy technologies group, executed on Thursday night its second block sale of shares in Technip Energies, the engineering and construction subsidiary it span off in February. Despite the holiday season, the parent achieved a fractionally higher price than in the last trade and a significantly tighter discount.

Morgan Stanley ventured north of the 49th parallel this week to visit a Maple bond market that is on course for its busiest year for financial institutions issuance since the 2008 financial crisis.

The Berkeley Group, one of the UK’s biggest home builders, has mandated for a green bond, a week after high grade corporate issuers faced such a torrid time in the sterling market that some bankers called the market shut until the autumn.

Banca Monte dei Paschi di Siena’s capital instruments are at risk of being zeroed after UniCredit announced this week that it could buy the state-owned Italian lender on extremely favourable terms. Market participants are more optimistic on Monte’s senior debt, which would rally strongly if included in a merger.

Glenmark Life Sciences, a pharmaceutical ingredients manufacturer, wrapped up a three-day bookbuild for its India IPO on Thursday. The deal, worth up to Rp15.5bn ($208.6m), was covered 15.5 times.

Chinese online travel agency Tongcheng-Elong Holdings is making its debut in the offshore loan market for $200m.

Acme Solar Holdings was one of the few borrowers in Asia to brave volatile market conditions on Thursday to sell its debut dollar bond.

Louis Dreyfus Co Asia has become the latest commodities company to tap the debt market, seeking a $450m sustainability-linked loan that is being widely syndicated.

Andrea Orcel is looking to clinch a deal for Unicredit to acquire parts of stricken Italian lender Banca Monte dei Paschi di Siena (MPS) in the early part of September after revealing it was negotiating with the Italian government.

Credit spreads for corporate borrowers from sectors that will benefit the most from reopening from lockdowns are drifting wider as coronavirus infections rise thanks to the spread of the delta variant. Industries already battered by the pandemic face a rough autumn in capital markets if there is another major global wave of the virus.

Export Development Canada (EDC) sold the first offshore Chilean peso bond of the year as it dropped into the currency in search of short dated borrowing earlier this week.

HK Inno.N Corp, a South Korean pharmaceuticals company known for its popular hangover tonics, has priced its IPO at the top of the marketed range, netting W596.9bn ($520.9m).