Banks

Leveraged loan investors that took a punt on Carnival’s rescue financing last year are set for a huge payout, as the cruise operator looks to reprice its term loan Bs.

Emirates NBD, the biggest bank in Dubai, has mandated banks to arrange an additional tier one (At1) deal. It will follow another bank from emirate, Dubai Islamic Bank, which recently broke records with its own AT1 transaction.

Russia has mandated an exclusively Russian consortium of banks to arrange a euro bond issue. Market participants say the extra cash is not necessary but is Russia’s way of demonstrating its access to markets a month after its sovereign debt was slapped with further US sanctions.

CaixaBank extended its social bond curve with a non-preferred senior deal on Tuesday, raising €1bn with what was its first deal since it completed a merger with Bankia in late March.

Moody’s has placed Deutsche Bank on review for a ratings upgrade, praising the firm for making "swift and pronounced progress" towards its restructuring goals. The rating agency wants to determine whether the German bank can sustain a recent improvement in its earnings, which has largely been fuelled by an outperformance in its capital markets business.

Société Générale was looking to issue an additional tier one (AT1) in dollars on Tuesday, as European banks find room to place risky subordinated debt despite the trickier backdrop in financial markets.

The €173m IPO of hGears, the German maker of high-precision gears for e-mobility, is more than three times covered, ahead of final pricing later today.

Chinese issuers Redsun Properties Group and Shandong Hi-Speed Group Co have hit the offshore bond market, grabbing a brief issuance window ahead of a public holiday on Wednesday.

Viva China Holdings has raised HK$3.8bn ($491.4m) after offloading a block of shares in Chinese sportswear manufacturer Li Ning Co, according to a source familiar with the matter.

Nomura’s Asia ex-Japan healthcare investment banking head, Vijay Karwal, has left the firm after a three year stint to join a biopharmaceutical company.

Singapore’s food and agri-business Olam has raised a $1bn loan to support its acquisition of US spices and seasoning company Olde Thompson.

Barclays has hired Mani Joseph from Goldman Sachs to lead its Asia special situations team.