Banks

Citi has appointed one of its senior Shanghai-based bankers as the new head of corporates coverage for China.

Indian real estate company Macrotech Developers has kicked off bookbuilding for its up to Rp25.1bn ($338.2m) listing.

Chinese electric vehicle maker Li Auto has launched its debut convertible bond, aiming to raise $750m amid a rebound in US stock markets.

Hong Kong Broadband Network has returned to the loan market for a HK$5bn ($643m) deal for refinancing.

Europe’s high grade corporate issuers are expected to sit on the sidelines of the primary bond market for the coming weeks, as wide spreads and an impending earnings reporting season remove any sense of urgency among issuers to print new debt.

Italy and Portugal are the first two eurozone sovereigns out of the blocks for syndications following the Easter break, with the former looking to extend its curve by a further five years.

NatWest Markets has made another change to its debt financing management structure, with a new role for Roland Plan.

Three banks jumped into the euro senior market after the Easter break on Tuesday, benefitting from stable demand and printing with low new issue concessions.

Investors were relieved when Credit Suisse finally gave details this week about the damage it has suffered from its Archegos exposures. The losses were higher than expected, but they were not large enough to burn completely through the Swiss bank’s capital cushion.

Air France-KLM has revealed plans for a €4bn recapitalisation backed by the French government following approval from the European Commission.

Mobile TeleSystems, Russia’s largest mobile operator, has sold a social bond in roubles, as it became the latest major Russian corporate to foray into ESG financing. The issuer has not ruled out a return to international markets, although in recent years it has pivoted towards domestic funding.

JDE Peet’s, the Dutch coffee and tea company, and German retail and travel cooperative Rewe Group became the latest European borrowers to move their bank lines to be priced off sustainability-linked metrics, linking the margin on a combined €3.25bn of debt to ESG KPIs.