Banks

The strong run of green equity capital markets deals in Europe continued on Thursday night with a €224m sale of stock in Spanish infrastructure and renewable energy company Acciona.

The Prudential Regulation Authority has told UK banks that they are free to resume dividend and bonus payments from next year, though pay-outs will be subject to caps based on profits and risk-weighted assets.

Ahold Delhaize, the Dutch grocer, has refinanced a €1bn revolving credit facility and added sustainability-linked metrics to the deal, as the company’s capital structure continues its shift towards ecological and socially conscious financing.

Country Garden Services Holdings Company has raised HK$7.785bn ($1bn) from a placement of new shares, riding on strong investor interest in property management services companies over the past year.

In the final instalment of GlobalCapital Asia’s awards announcements, we reveal the best Asian investment bank and the best investment bank in the region for 2020, as well as the bank that stands out for its response to the Covid pandemic.

Malaysian energy giant Petronas raised MR3.05bn ($751.8m) from a pair of secondary share sales on Thursday.

Chinese property management firm Sino-Ocean Service Holding has scooped up HK$1.74bn ($224.5m) after pricing its IPO below the mid-point of the marketed range.

Nio has launched a US follow-on offering that could raise up to $2.71bn, becoming the third Chinese electric vehicle (EV) maker to tap the equity market in less than two weeks.

GlobalCapital and Standard Chartered hosted a combination of virtual and in-person roundtable on the China high yield debt market at the end of November. The third part of a 2020 series followed the first roundtable in April and the second in July. This time around, leading experts came together to discuss the opportunities and outlook for the Mainland’s high yield bond market.

The launch this week of the Climate Transition Finance Handbook has propelled the sustainable debt market towards a new era, in which the emphasis moves from a labelled security to the issuer itself, writes Jon Hay.

At the end of a strong year, Deutsche Bank told investors that its investment bank had not simply benefitted from a rising tide lifting all boats, but that it would be able to carry on generating much of the extra revenue it created in 2020. It also boasted of working on a number of European sovereign debt deals.

Two European banks ventured across the Atlantic this week to tap a dollar market that has remained open for business going into mid-December.