Banks

Sustainability-linked bonds conquered a new investor base this week, as the instrument spreads rapidly around the world. Surbana Jurong, an architecture and engineering consultancy indirectly owned by the Singapore government, brought the first such instrument to the Singapore dollar market, where it aroused keen interest.

Philippe Henry, head of HSBC's global banking franchise for Europe, the Middle East and Africa, is leaving the bank.

Belfius Bank and Santander found strong support among bank treasury investors in the euro market this week, helping them to print new preferred senior deals at very low yields.

The Province of Alberta made a rare appearance in the Kangaroo market on Wednesday, printing A$100m with a February 2046 bond. Daiwa Capital Markets ran the books.

CaixaBank and BayernLB were able to sail through fair value with green non-preferred senior deals this week, bucking a trend for rising new issue premiums in 2021. Bankers say a lack of supply is finally helping borrowers to exert more power over their pricing.

Iliad, the unrated French telecoms company, attracted ample demand and twice increased the expected size of its bond during bookbuilding on Thursday, as syndicate bankers say the European corporate market is wide open to all types of issuer.

IDB Invest, the arm of the Inter-American Development Bank that lends to the private sector, matched its biggest ever deal size as it came to the market on Thursday for its debut sustainability bond.

Goldman Sachs is trying to steal a march on rivals as it looks to turbo-charge its European business by leading the listings of the region’s most vibrant start-ups, writes David Rothnie.

Deutsche Bank was able to present a successful year for its investment bank when it announced fourth quarter and full year results on Thursday, coming 18 months after the restructuring of the business. The question now is whether it will be able to hold onto its increased profitability when times are less lucrative for investment banks.

Banco Commercial Portugues is planning to build out its debt stack with a preferred senior note, which should have value for the minimum requirements for own funds and eligible liabilities (MREL).

Whitbread, the UK hotel and pub company, amended and extended its revolving credit facility at around the same time as it stormed the bond markets with a blowout debut green trade.

New Horizon Health hit the equities market on Thursday, aiming to raise up to HK$2.04bn ($263.1m) from its IPO, according to a source familiar with the matter.