Banks

Henrik Stille, senior portfolio manager at Nordea Asset Management, talked to GlobalCapital about the covered bond market and the incredible returns that his strategies have delivered this year, from traditional long-only solutions to innovative leveraged alternatives.

Emerging market bond mandates are continuing into the last month of the year, despite expectations that activity would quieten down after a jam-packed year of issuance. Kuwait’s Burgan Bank and Montenegro are among some of the CEEMEA issuers seeking to take advantage of unfalteringly attractive credit conditions.

Citi has picked Elissar Farah Antonios to be its new cluster head for the Middle East and North Africa, a newly created role.

Société Générale took advantage of superlative conditions in the US dollar market at the start of the week, raising $2bn of funding with a tightly priced deal in non-preferred senior format.

Louis Dreyfus, the Dutch agricultural trading company, has amended and extended revolving credit facilities totaling $697.6m, weeks after the company got its first investment grade rating.

New York-based hedge fund Third Point has offloaded a £42.3m chunk of its stake in Energean, the London-listed oil and gas producer focused on the Eastern Mediterranean.

Since 2018, Raiffeisen Bank International has issued several green bonds. Targeting private and institutional investors, the bonds support the growth of green financing at RBI’s headquarters and across its subsidiary banks in CEE, thereby facilitating a reduction of more than 60,000 metric tons of CO2 emissions per year. This corresponds to the annual greenhouse gas emissions of more than 13,000 cars or almost 7,000 households.

Credit Suisse has hired ex-UBS banker and former banking regulator Alan Wang as its chief operating officer for China.

Chinese property developer Logan Group Co courted investors with a six year bond on Monday, raising $300m from a solid order book of $3.3bn.

Suzhou SND Group Co, a Chinese local government financing vehicle (LGFV), got lukewarm support for its debut dollar bond on Monday, forcing it to offer a bit of premium to get its deal past the finish line.

Chinese financial technology company Bairong is targeting Hong Kong for its IPO, having filed a draft prospectus with the city’s bourse.

Philippine company SMC Global Power Holdings Corp added $350m to its coffers from a bond tap on Monday, taking advantage of market stability to return to investors rapidly.