Banks

Credit Suisse equity capital markets veteran Stephane Gruffat is set to join Deutsche Bank, according to an internal memo seen by GlobalCapital.

A pair of infrequent euro borrowers, Virgin Money and SBAB Bank, tapped the market for €500m no-grow bonds on Thursday, landing deals at significantly tighter spreads compared with their last euro outings.

Crédit Agricole asked holders of its sterling additional tier one (AT1) to exchange their bonds for new notes on Thursday, which will recognise the regulatory order after Brexit and will reset the debt to pay to a rate based on Sonia rather than Libor.

Russia launched its first international bond of the year on Thursday, which some have labelled as a show of strength by the sanction-hit country. Market participants are now debating which investors will end up buying the trade.

Eurostar, the company that runs trains through the Channel Tunnel between London and Europe, has signed a £250m commercial financing package, months after it begged the UK government for bailout funding.

Angel Pond Holdings Corp, a special purpose acquisition company backed by Alibaba co-founder Simon Xie, has raised $250m from a New York Stock Exchange IPO.

Viva China Holdings raised HK$3.8bn ($491.4m) by offloading a block of shares in Chinese sportswear manufacturer Li Ning Co this week, while Swiss Re exited New China Life Insurance.

Finland’s Aktia Bank sold its inaugural additional tier one (AT1) note this week, raising a small sized deal with a sub 4% coupon.

French hotel landlord Convivio Hotels has launched a €250m rights issue ahead of the reopening of EU countries to foreign tourists this summer.

JD Logistics wrapped up its jumbo Hong Kong IPO on Thursday after a strong turnout from institutional investors, attracted to the company’s fair valuation and its parent’s credentials. The multi-billion-dollar listing is set to be the city’s largest float since the beginning of the year, writes Jonathan Breen.

Singapore Airlines is planning to raise S$6.2bn ($4.6bn) from a rights offering of mandatory convertible bonds.

Freeport Indonesia is inviting banks to join the senior syndication stage of its $750m borrowing.