Banks

Demand for BPCE's latest Kangaroo note was skewed towards the preferred senior format this week, with non-preferred paper only making up A$125m ($96.0m) of the A$750m deal. The French firm was also joined in the market by Rabobank, which sold its first Aussie deal after an almost two year absence.

Trans-Oil Group, a Moldova agriculture company, was in the market on Wednesday for a dollar bond. The issuer has a rocky history in debt markets, following a failed attempt at a debut bond in 2018.

The Slovak Republic entered bond markets on Wednesday, seeking to sell a bond in euros. Though volatility in global markets has dampened primary markets in CEEMEA, emerging European sovereigns have continued to tap investors this year.

Aviva has asked investors to agree to a change in the terms of three of its tier two bonds, to try and make sure they revert to spreads over Sonia rather than Libor if they live on past their first call dates.

South Korean issuer Hanwha Solutions Corp debuted in offshore renminbi (CNH) on Tuesday, pricing a Rmb1bn ($153m) green bond that benefitted from a guarantee from the Asian Development Bank’s Credit Guarantee and Investment Facility.

Vingroup Joint Stock Company raised $500m from an exchangeable bond this week, selling the largest equity-linked transaction from Vietnam — and developing the market by using novel structural features never seen before in the country. Rashmi Kumar reports.

MUFG Bank has appointed Johnson Yuan as deputy president for its wholly owned subsidiary MUFG Bank (China).

Freeport Indonesia, a copper mining company, is in talks with banks for a new $750m loan for capital expenditure, after being forced to cancel a larger facility last year owing to the Covid-19 pandemic.

UniCredit swept away the Landesbanks in the Schuldschein market last quarter to claim pole position so far this year, with an arranging market share of nearly 20%.

Eurogrid, the German power network company, made light work of a bond market outing on Tuesday, obtaining more than five times oversubscription for a €500m issue in a market subdued by the looming earnings season.

Air France-KLM has set the offer price for its €1bn capital increase following an accelerated bookbuild on Monday night.

Berlin Hyp has this week become the first financial institution to issue a sustainability-linked bond. Market participants were divided over whether the structure helped the issuer to achieve better deal terms, but the innovative trade will give other banks an important example to follow.