Banks

Paragon Banking Group has concluded a liability management exercise by replacing a large chunk of its outstanding tier two debt with new green paper.

Bank Julius Baer, the operating company arm of the private Swiss bank, has mandated for its inaugural bond, marking the first time this name has issued at an opco level. At the same time, Pfandbriefzentrale raised Sfr926m ($990.6m) with a new three part covered bond.

Germany's IPO renaissance is continuing with the flotation of Freidrich Vorwerk, the energy infrastructure construction company, which is due to price later today.

Bilibili, a Chinese video sharing and gaming platform, has raised HK$20.2bn ($2.6bn) from its Hong Kong secondary listing, following a strong turnout from institutional investors.

Greenko Energy Holdings took $940m from an amortising green bond on Monday, adding to the recent spurt in sustainable issuance from India.

Property developers R&F Group and CC Land Holdings are jointly looking for a dual currency loan of £476.7m ($653.5m)-equivalent to develop a project in London.

Hong Kong JunFa Property Company raised $116m on Monday from a well anchored tap of one of its existing bonds.

South Korean internet company Naver Corp, best known for its search platform, has made its debut in the bond market with a $500m sustainability note.

Europe’s high grade corporate bond pipeline is bulging this week, as slightly improved market conditions from last week have prompted a diverse set of issuers to lock in funding before the end of the quarter.

Norwegian borrower Storebrand was the only financial name on screen in euros on Monday as the FIG market paused after the busiest week of the year so far.

The Islamic Development Bank mandated banks on Monday to arrange a sustainability sukuk, having forayed into the market last year with a Covid-focused deal. Fellow Gulf-based issuer Boubyan Bank has also mandated banks for a dollar sukuk.

Norwegian insurer Gjensidige Forsikring is looking to refinance its outstanding restricted tier one (RT1) note – the first ever sold in the format – with a pair of new subordinated deals.