Banks

CPPIB Capital sold its first public Sonia floating rate note on Monday, with Oesterreichische Kontrollbank set to be the next public sector borrower to hit the sterling market after mandating banks for a long four year fixed rate benchmark.

Piraeus is set to become the first Greek bank to print an additional tier one (AT1) bond — the next step in its capital plan after the closing of its €1.4bn equity raise last month.

Swedish Covered Bond Corporation’s (SCBC) benchmark eight year deal, syndicated on Monday, was slow to build and, even though the final spread looked fine, the process clearly showed that investors are reticent to buy deals at prevailing levels.

Lloyds Banking Group became the latest name to wade into a rampant subordinated sterling market this week, pricing a £500m tier two note on top of fair value.

American insurer Equitable is set to sell its first funding agreement-backed (FAB) note in euros, almost one year after it launched its FAB programme.

Ecobank Transnational is planning to debut in the sustainability bond market as Kuwait's Ahli United Bank prepares to enter the market for a sukuk. Emerging market issuers are continuing to flood the market amid concerns from some about the Federal Reserve tapering its asset purchase programme.

The former co-head of Bank of America Merrill Lynch's EMEA corporate and investment bank, Bob Elfring, has returned to banking in a vice-chair role at JP Morgan after retiring in 2018.

Atresmedia has signed a €250m sustainability-linked loan, becoming the first Spanish media company to do so.

The Sultanate of Oman, one of only two sub-investment grade credits in the Gulf, is set to sell a sukuk. The government is seeking the dollar-denominated debt months after it last entered both the bond and syndicated loan markets to bolster its financial capacity.

Chinese online recruitment company Kanzhun has hit the road with an up to $912m Nasdaq listing.

Two Chinese policy banks have issued dollar-denominated bonds onshore after a long hiatus, as the renminbi exchange rate continues to strengthen and foreign currency deposits in China hit a record high.

DBS Securities (China) officially opened for business on Monday, as foreign banks continue to expand their presence in the mainland.