Banks

Korea Investment & Securities marketed a three year and a five year bond on Monday, raising a combined $600m.

Private equity firm Blackstone is raising $1.1bn to support its purchase of a stake in Indian IT company Mphasis. The deal is set to be the largest leveraged buyout loan in the country — and comes with a group of 13 bookrunners at the top. Pan Yue reports.

Toyota Motor Finance Netherlands, the Dutch arm of the Japanese car company’s credit division, on Monday became the latest issuer to hit the red hot sterling bond market, parking a chunky single tranche trade in the currency.

Kungsleden, a Swedish commercial property owner, has signed a Skr2.9bn (€285m) credit facility linked to sustainability targets, as lenders’ varying approaches to key performance indicators on these types of deals are once again thrust into the spotlight.

Barclays has hired a senior trader from JP Morgan in New York to replace Naseer Al-Khudairi as head of electronic trading and digital strategy for its markets division.

Two SSA borrowers announced on Monday that they were preparing to enter the dollar market on Tuesday, hoping for a calmer picture in the underlying rates market than was in evidence last week.

LBBW cut a lone figure in the market on Monday as it announced plans to sell its first green labelled non-preferred bond in euros for over two years.

The European Union mandated banks on Monday for a dual tranche transaction comprising bonds for its Next Generation EU (NGEU), European Financial Stabilisation (EFSM) and Macro-Financial Assistance (MFA) programmes.

Bank of Nova Scotia ended a six year absence from the senior segment of the Swiss market to print a 10 year bond on Monday.

Uzbekistan re-entered the international bond markets on Monday for its third ever issue. The dual currency bond it was marketing aimed at drawing in the widest possible investor base, market participants said

London’s booming investment trusts market is showing no sign of slowing down, with three new deals pricing on Monday including space-tech vehicle Seraphim Space Investment Trust.

Arguably the most important sustainable finance innovation since the development of green bonds, sustainability-linked bonds have picked up notable traction in the year since the launch of the Sustainability-Linked Bond Principles. But while the instrument provides the holistic issuer-level engagement that many investors are seeking, in contrast to use of proceeds bonds, questions remain over both the credibility of KPIs and applicability to financial and sovereign credits.