Banks

JP Morgan has made new appointments to its China-related businesses, including picking the chief executive for its majority-owned onshore securities joint venture.

Tesco has mandated banks for a debut sustainability-linked bond (SLB) from its freshly printed framework. The UK supermarket chain also joins the growing ranks of issuers taking advantage of low interest rates by launching a simultaneous liability management exercise.

Two supranationals are set to hit the market for their first dollar benchmarks of 2021 on Wednesday.

France set a new order book record with its new 50 year syndicated bond on Tuesday. Two other public sector borrowers joined the sovereign at the long of the euro curve.

The UK Debt Management Office launched a new 25 year line on Tuesday, raising £6.5bn. The DMO also published the minutes of its call with investors and Gilt-edged Market Makers on Monday, revealing strong appetite for inflation-linked products.

Frazer Ross, head of investment grade debt syndicate for Europe, the Middle East and Africa at Deutsche Bank, is taking a sabbatical.

Sovcombank, one of Russia's largest private banks, this week raised its debut social bond — still a rare format among emerging markets borrowers in the Europe, Middle East and Africa region. The bond follows an ESG loan the bank raised just weeks ago.

Oberbank sold its first senior non-preferred bond on Tuesday. The issuer's investor work paid off as more than 70 accounts poured into the sub-benchmark deal, which was almost two times covered.

Turkey and Bahrain took to primary markets to raise bond funding on Tuesday. But the appearance of two high yield credits has not driven unqualified enthusiasm for all borrowers in that asset class.

Motability Operations Group, the UK non-profit company that leases cars to disabled people, will only issue social bonds in future, after successfully using the format for the first time last week.

Investment bank BTIG has hired Neil Roberts and Matthew Austin for its institutional equities division in London.

Immunocore, the UK biotech company, has filed for an IPO on the Nasdaq in New York following a $75m series ‘C’ funding round which concluded last week.