Banks

The Thai subsidiary of Taiwan’s Chailease International Finance Corp has returned to the loan market.

Hyundai Capital Services sold a three year bond denominated in offshore renminbi this week, raising Rmb700m ($108m) at an attractive level versus its existing dollar funding.

US-listed hybrid electric vehicle maker Li Auto launched a billion-dollar listing in Hong Kong this week, providing a much-needed boost for the bourse after a spate of announcements from China’s regulators brought deal flow to a near halt. Jonathan Breen reports.

CDB Aviation, an Ireland-based subsidiary of China Development Bank Financial Leasing Co, has raised a $660m portfolio financing from banks.

Indian telecommunications company Summit Digitel Infrastructure made its debut in the dollar market this week, appealing to investors in the US and Europe that were keen to buy highly rated notes.

Two Chinese local government financing vehicles courted offshore investors on Wednesday to raise a combined $450m.

MUFG is implementing a new hybrid work policy in EMEA that enshrines flexible working patterns that were introduced during the pandemic.

The Berkeley Group, one of the UK’s biggest home builders, found the pulse of the sterling bond market on Wednesday, two weeks after some bankers had declared the market dead until the autumn.

NatWest Group said on Friday that the “reshaping” of its investment banking arm, NatWest Markets, would be largely complete by the end of the year, after it moved a further 500 staff out of NWM in the second quarter.

Barclays opened books for an additional tier one deal in the dollar market on Wednesday, after proving earlier in the week that euros was still open for business even in the middle of summer.

Banca Monte dei Paschi di Siena’s tier twos are see-sawing in the secondary market, as investors try and determine the fate of the bonds following merger interest from UniCredit.

Bank of China took its pivot away from Libor-linked bonds further this week by selling a dollar note tied to the secured overnight financing rate (Sofr) and a sterling-denominated deal that was the first Sonia-linked bond from a Chinese issuer. While BOC’s transaction was important, bankers say the new benchmarks are still slow to take off in Asia. Morgan Davis reports.