Banks

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.

The Australian Prudential Regulation Authority (Apra) hit Macquarie Bank with a A$500m ($378.4m) capital charge on Thursday, having uncovered serious faults in the firm's risk management practices. The announcement came a day after the bank paused its return to the sterling bond market.

Utmost Group, a UK life assurance group, has made a roughly £483m cash offer to buy high net worth investment platform provider Quilter International, with four banks lined up to provide debt for the deal.

Loans still under moratoria may be at a particularly high risk of impairment, according to fresh data from the European Banking Authority this week. The figures also revealed signs of a more general deterioration in asset quality within the EU.