Banks

CMB International Capital Corp, China Merchants Bank's wholly-owned offshore financial services platform, jumped into the offshore market on Tuesday to raise $600m.

Zhongyu Gas Holdings, a Hong-Kong listed natural gas distribution company, pulled its debut dollar bond on Tuesday evening after setting final guidance, leading some away from the trade to speculate that an aggressive pricing approach scuppered the deal. But its hiccup didn’t deter other issuers from hitting the market. Morgan Davis reports.

Kanzhun, China’s largest online recruitment platform, is planning a $100m listing of American depository shares on the Nasdaq.

Belgian supermarket chain Louis Delhaize launched a Schuldschein on Tuesday afternoon, according to market sources, joining a band of retailers tapping the market this year.

Europe’s high grade corporate bond market had a distinctly Spanish flavour on Tuesday as Cellnex and Merlin Properties issued. Some analysts predict that the healthy earnings season might mean a 15% rise in bond issuance from the European market.

Deutsche Bank held a three hour “deepdive” into its sustainability actions for clients, investors, the press and NGOs last week, with its CEO Christian Sewing and all its business heads. It coincided with an array of announcements, which even earned a favourable comment from Moody’s, including that Deutsche is accelerating its €200bn sustainable financing target. But those hoping for more detail on how Deutsche will decarbonise its financing were disappointed.

Sinch, the Swedish cloud-based communications services company, has raised Skr9.4bn (€926m) to fund M&A opportunities following an overnight share sale anchored by major investors.

Deutsche Bank is shifting about 100 banking jobs in its corporate banking division out of the UK to locations in Europe and Asia as part of a restructuring.

DLR Kredit is set to tap the market for non-preferred paper as it looks to refinance maturing paper that counts towards its regulatory debt buffer.

UBS Group made a swift return to the dollar bond market on Tuesday, as it went in search of an additional tier one transaction a day after raising $3bn of senior unsecured debt.

Sterling investors poured more than £5bn of orders into deals from NatWest Group and Bank of America on Tuesday, showing issuers that there is plenty of liquidity to put to work in the UK currency.

The Emirate of Abu Dhabi, one of the highest rated sovereign issuers in the Middle East, was in the market on Tuesday for a seven year dollar bond less than a year after it broke records by issuing the Gulf's longest ever bond.