Banks

The Republic of Benin plans to be the first sub-Saharan African sovereign to tap the international bond market twice in 2021. The sovereign this week intends to sell a bond with a sustainability feature, making it one of the first in the region.

Simon Denny, whom Barclays hired as head of banking for South Africa in 2019, is no longer with the firm.

Rare credits are stepping in to pick up the pre-summer slack, with unusual financial and corporate names returning to a market hungry for new supply.

Terminal X Online Ltd, the Israeli fashion e-commerce company, is preparing to go public on the Tel Aviv Stock Exchange, having secured the backing of Danish online retail billionaire Anders Holch Povlsen.

Indian financial technology company One MobiKwik Systems is eyeing Rp19bn ($255.1m) from an IPO, having filed initial documents with the regulator.

Minor International Public Co, a Thai hotel operator, closed a $300m transaction on Monday as part of a liability management exercise.

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.