Banks

BCS Global Markets, the investment services division of Russia’s largest independent broker, has hired a new treasurer.

Macquarie shed over a third of its order book on Wednesday as it priced its third euro deal in 18 months at what was deemed a “very tight” level. It was joined in the senior market by Swedbank, which was issuing its first callable non-preferred bond.

Danske Bank set a careful foot into the Reg S dollar additional tier one market this week, in the wake of a difficult trading session for global equities.

UniCredit’s new chief executive Andrea Orcel has slimmed down the bank’s executive committee while recognising “frustration” and “confusion” around past decision making at the firm.

Virgin Money UK was six times subscribed for a tightly priced tier two in the sterling market on Wednesday, despite having offered a very similar deal to investors last September.

UniCredit’s German subsidiary, HVB, enjoyed a stunning investor reception for its negative yielding eight year Pfandbrief that was issued on Wednesday, thanks to the lack of supply this year, the small but rare premium on offer and the superb market conditions.

Barclays returned to the Kangaroo bond market this week after being absent for two years to raise A$600m across three tranches of holding company debt. The market was split over which tranche offered the most value in pricing.

Suelzle Holding, a German steel maker, has signed a €140m revolving credit facility, as lenders say there are a handful of similar deals in the works for borrowers in the German speaking region.

Permanent TSB added to a recent run of Irish bank supply on Wednesday, tapping into strong investor demand with a new tier two in the euro market.

SAIC-GMAC Automotive Finance Co priced a Rmb10bn ($1.56bn) auto loan ABS transaction this week, its third outing in China in 2021, switching to a simple structure comprising a senior and a subordinated tranche.

Asia-focused special purpose acquisition company Seven Islands has filed for a $300m Nasdaq listing.

Volkswagen Finance (China) Co came to the onshore auto ABS market for the first time in 2021 with a Rmb5.97bn ($929m) transaction this week, slashing the revolving period to three months to achieve a competitive pricing.