Banks

Metallurgical Corporation of China navigated tricky bond market conditions to raise $500m on Monday at a negative new issue premium, thanks to its standing among investors and the scarcity of state-owned perpetual deals.

South Korean auto company Kia Corp made its green bond debut on Monday with its first dollar deal since 2017, pricing both tranches at tight levels due to strong support from ESG-focused investors.

Petron Corp, a Philippine oil company, raised $550m from a senior perpetual bond sale this week.

Casino operator Genting Malaysia bagged $1bn from a 10 year bond on Monday, surpassing the size expectations for the trade.

BIMB Holdings, a Malaysian financial holding company that is in the midst of a restructuring, is looking to raise about MR795.6m ($192.4m) from a primary placement of new shares.

A slew of mandates hit Europe’s high grade corporate bond market on Monday, with issuers increasingly adding their ESG ratings to investor communications that cover their whole enterprise, even if the deal being marketed is not a designated socially responsible investment.

Four public sector borrowers sold intraday trades in the euro market on Monday with the European Financial Stability Facility making a dent in its second quarter funding and three other issuers receiving impressive demand for socially responsible deals under their updated frameworks.

BPCE and Rabobank are in the market for Aussie dollar senior paper, with bankers expecting a busy April as a slew of financial issuers refinance maturing bonds.

Swiss pharmaceutical ingredients manufacturing company PolyPeptide Group has filed for an IPO on the SIX Swiss Exchange, which is expected to value the company at around €1.5bn equivalent to €1.7bn equivalent, according to a source close to the deal.

DekaBank’s sub-benchmark Pfandbrief issued on Monday was more than three times subscribed and was priced through fair value, boding well for a follow-on Pfandbrief from DZ Hyp for launch on Tuesday.

Dandara Living, a UK residential property developer, has signed a £60m green revolving credit facility, as real estate companies continue to be some of the heaviest users of the debt markets this year.

Slovakian lender Tatra Banka is hoping to launch its debut green bond in euros this week, with deal arrangers urging rare issuers to take advantage of quieter markets in the run-up to results season.