Banks

Chinese toll road operator Zhejiang Expressway kick-started Asia's equity-linked market this week, dipping into euros for the year’s first convertible bond. It plans to use all the proceeds to repay debt.

Singapore-based Ivanhoe Capital, led by mining billionaire Robert Friedland, is floating a special purpose acquisition company (Spac) on the New York Stock Exchange.

Shangri-La Asia, the investment holding company of hotel operator Shangri-La Group, has hired two banks to lead a Rmb1bn ($155m) Panda bond, its first in the currency.

Craig Meisner, the former head of loan markets for Lloyds Banking Group for North America, has landed a new job at ING Capital.

Brazilian bank BTG Pactual became the third Latin American issuer to announce plans to issue ESG-related debt this year after it mandated for a potential senior unsecured green bond.

World Bank sold a Canadian dollar benchmark on Tuesday, raising C$1.5bn ($1.2bn) with a January 2026 line.

Europe’s investment grade corporate bond market continued its blazing start to the year on a busy Tuesday with trades coming flat to or through secondary curves, and syndicate bankers say the blistering momentum is set to last throughout January.

Wessex Water, the UK utility, proved that there is still demand for sterling corporate paper in a post-Brexit world, achieving almost five times oversubscription for its 15 year bond.

Public sector borrowers soaked up huge demand in the euro market on Tuesday including the State of North Rhine-Westphalia, which printed its biggest ever 100 year bond despite offering a yield of less than 1%.

KfW and Swedish Export Credit Corporation (SEK) achieved strong results in sterling on Tuesday despite extremely volatile conditions in the currency as a result of uncertainty around the impact of Brexit and the rising cases of coronavirus in the UK, which has affected swap spreads and the cross-currency basis swap for non-UK borrowers.

The dollar SSA market leapt into action on Tuesday with an impressive deal from the European Investment Bank. Two more are set to follow on Wednesday, including a 10 year benchmark.

Standard Chartered and Crédit Agricole jumped into the long end of the yield curve on Tuesday, as the pair looked to harness the desire for long-dated dollar debt.