Banks

CapitaLand Retail China Trust (CRCT) took advantage of strong investor demand for its placement to fully exercise a greenshoe option and raise S$245.4m ($182.8m) on Tuesday.

Dongfeng Nissan Auto Finance Co is set to launch a Rmb4.9bn ($747m) auto loan asset backed securitization next week.

As investors sought gold and silver as a hedge against inflation and uncertainty, investment banks with the capabilities to act in these markets benefitted. Some made more than $100m in precious metals in the third quarter, according to Coalition Greenwich.

LafargeHolcim, the French-Swiss construction materials company, breezed past fair value on its debut sustainability-linked bond (SLB) on Tuesday, helping dampen concerns from some corners of the market that investors might struggle to get comfortable with the structure’s unspecified use of proceeds.

Orbit Capital, the UK housing association, had its £300m November 2038 bond issue more than five times subscribed on Tuesday, as more borrowers line up trades in a rip-roaring week for new corporate bond issuance in Europe.

Abertis Infraestructuras, the Spanish toll road company, got blowout demand for its hybrid capital issue on Tuesday, as appetite for riskier debt returned to the corporate bond market.

Dollars was the flavour of the day for public sector borrowers on Tuesday as three issuers headed to the currency, raising a combined $12bn. Two more SSAs will follow with dollar deals on Wednesday.

Gregg Lemkau is leaving Goldman Sachs at the end of the year and will head up an alternative investment firm linked to tech entrepreneur Michael Dell. Jim Esposito will take over as joint head of the investment banking division at Goldman.

Stadshypotek on Tuesday became the first Swedish bank to issue a euro benchmark covered bond this year, with its first euro deal secured on Norwegian mortgages. The bond was priced at the tightest spread for any covered bond issued outside the eurozone since May 2019.

Sistema, the Russian diversified holding company, has raised a sustainability-linked credit line through the country's largest lender, Sberbank. Though there has been an increase in sustainability-linked financing in Russia, this deal marks the first ESG-linked loan between a domestic corporate and borrower.

Ben Smyth, the whistleblower and former debt capital markets banker who took UBS to court, has been hired as an investment officer by the litigation funder Therium Capital.

A pair of smaller names were tempted into the euro market on Tuesday, after Monday’s news that scientists have developed another successful vaccine for Covid-19 led to a further improvement of market conditions.