Banks

Nottingham Community Housing Association has signed a revolving credit facility with a margin that is partially linked to increasing racial diversity within its management team — a metric that more borrowers are expected to use in sustainability-linked financings.

Vantage Towers, the telecoms towers unit of Vodafone, has launched its long-awaited flotation on the Frankfurt Stock Exchange, having announced its intention to float on Wednesday.

Indiabulls Housing Finance has brought a rare Indian convertible bond to the market, raising $150m after increasing the size of its debut offering.

América Móvil, the Mexican telecommunications company controlled by Carlos Slim, had to cheapen the terms of its €2.2bn bond exchangeable into shares in Dutch telco KPN, but still achieved a remarkably cheap refinancing of a non-core stake.

The Export-Import Bank of Korea has returned to the offshore renminbi (CNH) bond market after nearly three years, to take advantage of a recent rally in the CNH swap rate and investor demand for high quality Korean deals.

Agricultural Bank of China (ABC) took a three-pronged approach to its deal on Tuesday, raising nearly $1bn across two dollar bonds and one Hong Kong dollar tranche. The bank was able to squeeze the spread on its notes to new lows, riding on the strong secondary market performance of deals from the big Chinese banks.

SK Holdings pocketed W1.12tr ($1bn) from a block trade of SK Biopharmaceuticals, but the deal hit the South Korean drug company’s share price hard, sending it tumbling more than 17%.

Toyota Motor Finance (China) Co plans to launch its first auto loan securitization deal of 2021 under the Toyota Glory series next week. The originator will open the onshore auto ABS market after the Lunar New Year break with a Rmb5bn ($774m) transaction — its largest to date.

Glencore, the Swiss commodity trading company, got a lukewarm response from the euro bond market on Tuesday, as investors prepared their cash piles for a flurry of deals from rare and high beta names.

Easyjet, the UK budget airline, has mandated for a seven year euro trade, as the company looks to fly high on the UK government’s plans to travel out of its coronavirus pandemic lockdown.

KommuneKredit mandated banks on Tuesday to follow its Nordic peer into the 10 year part of the euro curve, in what will only be the second public deal in the euro SSA primary market this week.

HSBC's global banking and markets division (GBM) plans to invest in Asia and plug more than half its risk-weighted assets (RWAs) in the Apac region and the Middle East by 2022, the bank outlined when reporting its full-year results on Tuesday. Meanwhile, in the final three months of last year, global banking revenues fell year-on-year, but proceeds from equities more than doubled.