Banks

After several quarters of strong performance among European investment banking businesses, there are signs that firms are satisfied with cost cutting measures and are prepared to resume investment instead.

Convertible bonds are expected to remain a popular financing tool for European companies once the market reopens in September, as long as the bull run in stocks continues.

Aligning with a global commercial bank has been on Jefferies’ agenda for several years, but its alliance with SMBC signals an intent to join the investment banking big league. By David Rothnie.

Lloyds Bank has formulated a succession plan to prepare for the departure of Allen Appen, its head of bond financing, as another senior figure prepares to leave its debt capital markets group.

Idorsia, the Swiss biotech company, has turned to the convertible bond market to finance looming product launches and the development of its late-stage drug pipeline.

Alfa Bank, Russia’s largest privately owned bank by assets, loan portfolio and equity, this week sold a Euroclearable bond in roubles.

Canada’s Equitable Bank covered programme received legislative approval this week, paving the way for a debut deal in the coming months.

Oi, the Brazilian telecom company, re-entered international debt markets this week to raise almost $1bn of short-dated paper.

KfW added to the week’s SSA niche currency supply on Wednesday with a tap of a green Kangaroo bond that ended up almost two times the initial target size.

Barclays has made several further promotions across its capital markets and M&A teams in London and New York, a week after rolling out a new global investment banking management structure.

Chia Tai Animal Husbandry Investment (Beijing) Co, an onshore China entity of Thailand’s Charoen Pokphand Group, is borrowing its first offshore loan directly.

Mainland-based Jiayi Education Holdings, an after-school tutoring company, has dropped its Hong Kong listing plan following news of a radical change to China’s education sector.