Banks

A group of nine issuers from Asia sold green or sustainability dollar bonds this week, propelling volumes to new highs. A large part of the debt business in the region is still focused on green and the environment, but there is growing urgency to pay more attention to governance standards. Morgan Davis reports.

Guandong Haid Group Co and Shenzhen Yuto Packaging Technology Co are both making their debuts in the loan market.

Citi has added to its EMEA technology investment banking team with the hire of a managing director from Deutsche Bank.

Europe’s corporate bond market continued to pump out deals on Wednesday, despite the equities market licking its wounds after inflation fears brought a sea of red to stock prices.

Commerzbank has outperformed expectations by reporting a net profit in the first quarter of the year — even accounting for a large restructuring charge — as the German lender trims its workforce and sharpens its focus on the domestic market and German clients.

French cloud computing company OVHcloud has mandated banks for its upcoming initial public offering on Euronext Paris.

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.