Banks

Beijing Capital Group Co, which marketed a two-tranche deal on Monday, decided to ditch the planned perpetual note and instead price a larger senior tranche for cost reasons.

Yongcheng Coal and Electricity Group’s debt woes have continued into the New Year. The company has warned about a missed payment on yet another domestic bond, and more institutions involved in its bond issuance have been criticised by a Chinese regulator.

Agricultural Bank of China and Shanghai Pudong Development Bank Co competed for investor orders on Monday. ABC, the bigger of the two and offering a green bond to the market, got more attention, while SPDB faced an uphill battle.

Taiwanese printed circuit board manufacturer Zhen Ding Technology Holding has broken a three absence from the loan market to launch a $250m deal for refinancing.

Vietnam’s Masan Group Corp is inviting lenders to join an up to $250m loan to support an investment into one of its subsidiaries.

Chinese electric vehicle manufacturer Nio is tapping the equity-linked market for a jumbo convertible bond, as it looks to add more to its coffers just a month after a multi-billion-dollar share sale.

Vingroup Joint Stock Co has launched an up to $400m loan to the market.

The first public deals of the year in the long end of the euro curve from the supranational and agency sector arrived on Monday, with the trades receiving huge demand and pricing exceptionally tight to secondary levels.

Practitioners believe 2021 could be the year when sustainable finance finally breaks out of the narrow confines it has inhabited so far and spreads more widely across the economy.

Russia’s Sovcombank has entered the ESG loan market for the first time, raising a $350m syndicated loan. An increasing number of Russian corporates are turning to the green financing sector as a way to diversify funding.

Aroundtown, the Frankfurt-listed property company, opened 2021’s corporate hybrid capital issuance on Monday. More subordinated deals are already being lined up.

Fundamentals are becoming more important again in Europe’s corporate bond primary market, but the power of the European Central Bank technical trade in the secondary market is quickly washing away any new issue concessions issuers have to give.