Banks

Barclays has become the latest bank to begin transitioning over the reset rates on several of its additional tier one bonds from Libor to Sonia. Unlike recent switchers Lloyds and Santander, Barclays has also opted to change over the reset rate on an outstanding dollar AT1.

Nederlandse Waterschapsbank and Kommuninvest will both take to the dollar market this week, sneaking in ahead of the Thanksgiving holidays.

The Ivory Coast has sparked life into what has been a bleak year for sub-Saharan African bond issuance. Most sovereigns have turned to the official sector to support them throughout the coronavirus crisis as a result of being priced out of the international debt capital markets, bankers said.

Greencoat UK Wind, the renewable infrastructure fund, is buying a 38% stake in an offshore wind farm for £500m using new and existing debt. But analysts warn that the fund could push through its debt ratio limit in the coming years.

Oman, one of only two sub-investment grade sovereign credits in the Gulf region, tapped two of its dollar bonds for $500m this week as it seeks to shore up state finances.

The IPO of Nordnet, the Swedish digital bank and investment management platform, is due to be priced at Skr96, the midpoint of the initial range, when bookbuilding ends on Monday.

China's Evergrande Property Services Group has kicked off its IPO, aiming to raise up to HK$15.8bn ($2bn) with strong support from friends-and-family investors.

Two Chinese banks have agreed to arrange a $1.1bn loan to support China Biologic Products Holdings’ delisting from the Nasdaq stock exchange.

Sweden set out on Friday how it will apply the EU’s latest capital rules to its banks. Market participants highlighted that the planned changes would give issuers less headroom over the coupon cancellation threshold for their additional tier ones (AT1s).

Sweden’s EQT, the private equity company, has followed up on its summer signing of the biggest ever ESG-linked subscription facility with a second deal of the same maximum size. Lenders say this is further proof that ESG is becoming more important to private equity.

The Republic of Uzbekistan, which debuted in international debt markets just last year, sold a dual currency bond this week, as foreign investors eyed up an Uzbek som tranche.

Millicom International Cellular has sold a 5.2% stake in Helios Towers, the Africa-focused telecommunications infrastructure company, through an accelerated bookbuild.