Banks

Gunvor, the Swiss energy trader, has signed a $1.1bn credit facility through its US arm a week after completing a similarly sized deal for its European operations, with five new lenders joining the annual US refinancing.

Singapore-based Tiga Acquisition Corp has raised $240m after increasing the size of its New York Stock Exchange IPO.

Hong Kong Broadbank Network has increased a loan to HK$5.5bn ($709m) after attracting 20 participants during syndication.

Peru grabbed the bond market’s attention on Monday with a $4bn triple-tranche issue including a 100 year bond despite the country being on its third president this month. But the country’s public treasury director said it was the all-in yield, not the desire to make headlines, that drove Peru to become the fourth Latin American borrower ever to sell a century bond.

Stora Enso, the Finnish paper company, and Belgian utility Fluvius mandated banks to lead green bonds of 10 years or more on Monday, combining two recent themes in corporate bonds — ESG issuance and longer maturities.

The UK Municipal Bonds Agency is set to come to market for its third bond ever — this time, on behalf of Warrington Borough Council.

The European Union’s third outing to fund its Support to Mitigate Unemployment Risks in an Emergency programme is set to hit the market on Tuesday in the shape of a 15 year tenor — matching the maturity of its loans.

Carmila, the French shopping centre owner, rode the positive sentiment generated by news of another promising Covid-19 vaccine on Monday to launch a sub-benchmark bond. Bankers expect such opportunistic, small scale deals to dominate corporate issuance for the rest of the year.

The International Development Association will hit the market on Tuesday for a 10 year dollar benchmark — the first since such deal Cades came in mid-October.

Banks were busy issuing sub-benchmark sized deals in the euro public market last week, prompting several issuers to follow suit in the MTN market.

The Republic of Serbia this week raised a dollar bond in its second offering of the year, in what has been an exceptionally busy year for central and eastern European sovereign issuers.

The Co-operative Bank has completed the sale of a new senior bond just in time for a step-up in its minimum requirements for own funds and eligible liabilities (MREL). The UK issuer needed a chunky coupon to get its deal done, but managed to price through the trading levels on its outstanding tier two.