Banks

The Singapore-incorporated global energy company Puma Energy has bounced back after a planned bond issuance last year failed to materialise, raising $590m in the loan market. Sources say the company’s change of management and reorganisation brought a “sense of relief”.

NatWest Group recorded a loss at its investment bank on Thursday, after climbing down from the dizzying heights of last year’s first quarter profits. The weaker numbers weighed on the performance of the group, but the bank still managed to breeze past market expectations.

The Development Bank of Kazakhstan on Thursday launched a dual tranche bond in dollars and Kazakh tenge. Investor interest in emerging market local currency debt has increased over the last year, as the hunt for yield grows.

Beijing Enterprises Holdings battled weakened sentiment around Chinese state-owned enterprises to sell a $700m dual tranche transaction on Wednesday. The company was able to price a successful deal, but only after overcoming recent fears about Chinese issuers. Morgan Davis reports.

PowerGrid Infrastructure Investment Trust kicked off India’s third InvIT IPO on Thursday, aiming to raise up to Rp77.3bn ($1.03bn) in proceeds.

Pandora, the Danish jewellery maker, has signed a €950m sustainability-linked loan and in the process become the latest company to repay, early, coronavirus pandemic crisis funding taken out last year.

Two triple-A rated supranational borrowers scored big in the Australasian bond markets on Wednesday with the Asian Infrastructure Investment Bank selling its first Kangaroo trade and the World Bank bringing the joint biggest ever SSA Kauri bond – equalling the record it set last year.

Origin Housing, a housing association with homes in and around London, has sold £125m of US private placements – one of the bigger deals from the sector.

SK IE Technology raised W2.29tr ($2.07bn) this week from the largest Korea IPO since 2017. The deal achieved record demand as institutional investors bet on a sector leader and retail buyers rushed to the market for short term gains. Jonathan Breen reports.

South Korea's Kookmin Bank enticed investors into its latest bond sale by using a sustainability label.

Vietnam property developer BIM Land JSC made its debut in the dollar market this week with a green transaction.

The pull of a big fee pool and global reallocation of capital and resources are prompting banks to rethink the way they serve clients in the technology sector on both sides of the Atlantic, writes David Rothnie.