Banks

German insurer Allianz was met with a wall of demand for its debut restricted tier one (RT1) bond this week — a deal that could play an important role in the development of the asset class.

Adidas, the German sportswear company, has signed a €1.5bn loan to replace an emergency facility from KfW signed during the worst of the coronavirus pandemic. It has raised €3bn of debt since taking the crisis loan.

Hamburg Commercial Bank will no longer proceed with its planned tier two bond, having already attempted twice this year to bring one to the market. Its focus is now turning to issuing senior non-preferred and additional tier one (AT1) paper.

A block trade in Shenzhou International Group Holdings was launched on Tuesday evening. The deal could net up to HK$5.1bn ($659.3m), according to a term sheet seen by GlobalCapital Asia.

Three Chinese property companies launched dollar bonds on Monday, continuing to take advantage of the post-US election momentum.

Industrial and Commercial Bank of China (Asia)’s syndication and structured finance head has left the lender.

China Orient Asset Management (International) Holding got nearly $10bn of orders for its $750m dual-tranche bond on Monday as it rode on a big rally in market sentiment after the US elections and its own rarity appeal to investors.

Chinese auto finance company Tianjin Great Wall Binyin Automotive Finance Co got an international rating yet again for its return to the auto loan asset-backed securities market, a move that bankers say is in line with its ambitions to becoming more global.

Ascendas Real Estate Investment Trust has launched an offering of new shares, eyeing S$1.2bn ($891.6m) to fund acquisitions across the US, Europe and Asia Pacific.

Gland Pharma, a subsidiary of Chinese conglomerate Shanghai Fosun Pharmaceutical Group, has started bookbuilding for its Indian IPO, set to be the largest pharmaceutical listing in the country.

India’s Emcure Pharmaceuticals has returned to the loan market after four years, seeking a small amount of $34m.

Eurofima, the supranational institution that finances European rolling stock, will become the first public sector borrower to test investors’ appetite for dollar bonds following the US presidential election.