Banks

China Construction Bank has wrapped up its first onshore RMBS outing of 2021, starting the year with a relatively small Rmb5.14bn ($793m) transaction under its Jianyuan series.

Primavera Capital Acquisition Corp, a special purpose acquisition company, is set to launch a $300m IPO on the New York Stock Exchange this week, extending a recent boom in Asia-focused Spacs.

MUFG Bank (Hong Kong) has appointed Lin Li as head of global markets research for Asia.

Nomura has added more than 20 private bankers and investment advisers in Hong Kong and Singapore as part of its strategy to boost its wealth management business in Asia and globally.

Credit Suisse has boosted its investment banking operation in Japan by creating a new equity capital markets unit in the country.

SMBC Nikko wants to grow its capital markets and advisory business in EMEA, which is smaller than its parent’s heft in the loan market. It has hired Anthony Bryson, a former NatWest Markets and BNP Paribas banker, to lead the push.

Sagax, the Swedish commercial property company, and UK social housing firm Great Places have mandated for sub-benchmark sized deals, in what is likely to be a curtailed week for issuance in the corporate bond with a European Central Bank meeting on Thursday.

Total, the French oil and gas company, placed a chunky €3bn hybrid trade on Monday, as the spread between corporate senior and subordinated debt widens after months of tightening.

Lidl, the Germany-headquartered budget supermarket chain, has entered the syndicated loan market to raise cash from Asian lenders for a second time, according to market sources.

Spreads have moved away from their tightest levels, but issuers do not seem put off. France will extend the flood of long end deals with its first 50 year OAT syndication in almost five years on Tuesday.

Erste Group Bank was first out of the blocks this week to tap the euro market for senior preferred paper, with the lack of competing supply allowing the bank to target 'pricing over size', according to one of the leads.

Banca Monte dei Paschi di Siena has published a new business plan for the next four years, targeting a return to profit in 2022. The plan relies on the bank receiving a capital injection of at least €2bn, which is still under discussion with authorities in Italy and the EU.