Banks

Singapore-based FKS Food & Agriculture has closed a $255m-equivalent dual currency deal with eight lenders.

Redco Properties Group has tackled some of its upcoming maturities by selling a new $266m bond to refinance debt.

Wind power giant China Longyuan Power Group Corp found overwhelming support for its $300m bond sale, with investors giving the firm’s state ownership, deal timing and sector of operation a big thumbs up.

The two largest shareholders in Chinese clothes maker Shenzhou International Group Holdings have raised a combined HK$5bn ($644.9m) from a block trade.

ARA Asset Management and property company Chelsfield have raised a S$385.8m ($286m) green loan to finance the acquisition and renovation of 5One Central, a commercial building in Singapore.

Sameer Chandra, regional head of loan syndications for south Asia at Standard Chartered, has passed away.

US fast food chain Chick-fil-A has issued a $1.7bn US private placement, according to market sources, in what is widely regarded as one of the tightest deals sold since the outbreak of coronavirus. Arrangers in London are looking for similar companies in Europe that could be tempted to issue.

The European Union achieved an impressive result once again on Tuesday, raising €14bn for its Support to Mitigate Unemployment Risks in an Emergency (SURE) funding programme on Tuesday.

The European Central Bank cut in October the share of corporate bonds it bought that have lower ESG ratings, according to analysis from ABN Amro, leading some bankers to predict less technical support to come for parts of the corporate bond market.

Deutsche Lufthansa, the German flag carrier, has exploited the huge rally in equity markets in recent days by issuing a €600m convertible bond, which attracted orders from over 200 investors.

Deal arrangers expect banks will take advantage of a positive tone in the euro market by bringing forward their plans for non-preferred senior issuance, following in the footsteps of CaixaBank and ING Groep on Tuesday.

Crédit Agricole benefitted from brisk capital markets activity in the third quarter, its results on Tuesday showed, while it has also set up a private investment banking division for wealthy individuals and families.