Banks

The covered bond market went from famine to feast on Wednesday with a wide array of deals that all went very well.

The Sultanate of Oman's return to debt markets is proof to some that the market is wide open for high yielding emerging market issuers. The sovereign mandated banks for a dollar deal as investors, hunting for yield, appear undeterred by volatility in the US rates market.

Komerční banka sold the Czech Republic’s first euro denominated benchmark covered bond on Wednesday, landing flat to the curve of its Slovakian neighbours despite the European Central Bank’s absence from the book.

Volvo Cars, the Chinese-owned Swedish auto maker, has refinanced its main bank revolver with a €1.3bn sustainability-linked revolving credit facility, as the borrower looks to become climate neutral by 2040.

DZ Bank said this week that it will redeem eight tier one bonds issued out of special purpose vehicles, in preparation of the EU’s Capital Requirements Regulation transition period ending.

Indian Railway Finance Corp (IRFC) will hit the market next week with the country’s first IPO of the year. It is on track to raise up to Rp46.33bn ($633.7m).

China Maple Leaf Educational Systems debuted in the equity-linked market on Tuesday with a $125m convertible bond.

State-owned electricity generator China Huaneng Group Co priced a dual-tranche $1bn bond on Tuesday, overcoming complications emerging from rising US Treasury rates and geopolitical concerns.

Lenovo Group and Megvii Technology are planning to sell Chinese depository receipts (CDRs) on the Nasdaq-style Star market in Shanghai.

Chinese video sharing and gaming platform Bilibili is on track to launch its Hong Kong secondary listing within a month. It is aiming to raise around $2.5bn, according to a source close to the deal.

Senior ING banker Herry Cho is moving to the Singapore Exchange to take on a newly created position as head of sustainability and sustainable finance.

Beijing Enterprises Clean Energy Group has made a quick return to the loan market after five months, seeking a $150m deal in general syndication.