Banks

Fujian Yango Group Co returned with another high yielding bond on Tuesday, making it the only Asian issuer to brave the primary dollar debt market ahead of the US election.

Credit Suisse has named Mark Uy as its country manager for the Philippines, effective December 1.

It’s a pity the irreversible damage to our world’s lungs through the wanton destruction of its rainforests does not come with the same stark health warning found on a packet of cigarettes. If it did, the world’s largest banks and asset managers might be shamed into giving up their dirty habit.

Although Danish covered bond issuance in euros is likely to prove limited, the domestic market continues to provide a rich seam of supply for foreign investors. Confidence is likely to have been bolstered by the limited impact of Covid lockdowns on the country's mortgage market, along with recent proposals to harmonise and update its legal framework.

Bank bond spreads have moved tighter on the secondary market over the last two days, driven in part by a lack of supply and the prospect of a victory for Joe Biden in the US presidential election. But not all segments are seeing gains, as investors are still shying away from riskier paper amid uncertainty around the vote.

Corporate issuance volumes across CEEMEA have dropped this year, while sovereign issuance has sky-rocketed. The decline, said market participants, is testament to the resilience of the corporate sector, though a revival in issuance is expected in 2021.

Leonine, the German film and television production company, has signed loans totalling €189m, as some lenders say the market is likely to wind down early this year after the feast of bridge financings in the second and third quarters.

Trading in Banca Monte dei Paschi di Siena’s tier twos has heated up this week, following reports the Italian lender is looking for a new capital raise as well as a merger deal.

BNP Paribas reported strong third quarter results, helped, like other investment banks, by booming capital markets business as corporates sought to strengthen balance sheets and active issuance spurred higher than usual trading volumes.

Beijing Hyundai Auto Finance decided to try a revolving structure for its Rmb4bn ($597m) return to the asset-backed securitization market in China, getting an around two times subscribed book.

New Oriental Education & Technology Group is set to raise HK$10.1bn ($1.3bn) as it guides investors toward final pricing for its secondary offering in Hong Kong.

Indonesian instant noodle maker Indofood CBP Sukses Makmur has closed syndication of its $2.05bn-equivalent acquisition loan. The allocations are expected to be out in the next few weeks.