Banks

Société de Financement Local (SFIL) was over 5-1/2 times covered as it brought its long-awaited debut green bond to the market on Friday, allowing it to price well inside fair value.

The International Finance Corporation became the latest supranational borrower to hit the Kangaroo bond market on Friday, coming after the World Bank’s monstrous deal earlier in the week.

Inmobiliaria Colonial, the Spanish office real estate company, has signed a €1bn sustainability-linked loan, wrapping up a €2bn fundraising spree from the group.

Chinese property management firm Sunac Services has priced its Hong Kong IPO at the middle of guidance, bagging HK$8bn ($1.03bn), according to a source close to the deal.

Government-backed Chinese issuers Shandong Hi-Speed Group Co, Wuhan Trading Group and a local government financing vehicle from Xi’an ventured to the offshore dollar bond market on Thursday. They raised a combined $880m.

South Korea-based ESR Kendall Square is set to launch a W357.3bn ($320.3m) IPO for its real estate investment trust (Reit).

Chinese dairy products manufacturer Inner Mongolia Yili Industrial Group Co made its inaugural appearance in the offshore bond market on Thursday. Huaxin Cement Co also printed its first dollar deal.

Flag-carrier Singapore Airlines issued a S$850m ($629.6m) convertible bond this week, taking advantage of a surge in equity markets to signal confidence to investors.

Marcelo Delmar, a veteran of Latin American bond markets, has joined Morgan Stanley’s debt capital markets team in New York, GlobalCapital understands.

Commerzbank has endured a tough year but, with a new strategy on the way, loan impairments lower than at many peers, and executives seeing an uptick in its trade finance business, the worst may be behind it.

Klépierre, the French shopping centre operator, and UPM–Kymmene, the Finnish paper company, were two of a handful of names to receive raucous receptions from the bond market this week. Issuers benefited as a wave of market-friendly news turned the focus in Europe’s high grade bond market back to a risk on mode.

Issuers are winding down their funding programmes before the end of the year and several smaller SSAs have turned to MTNs to complete the little they have left to do. The big deals of the week, however, came from corporates, with Volkswagen and Eurogrid coming in at opposite ends of the curve.