Banks

Naftogaz of Ukraine elected to pull its long six year benchmark bond from the market on Monday, postponing it indefinitely.

UnipolSai Assicurazioni was nearly three times subscribed for a restricted tier one (RT1) this week — the first of its kind in Italy. An attractive coupon helped to offset any concerns about Italian sovereign risk or a lack of liquidity in the RT1 market.

Criteria Caixa is sounding out investors for a new seven year unsecured euro bond: its first at this tenor in over five years.

A pair of Asian banks tapped the Australian dollar bond market for a combined A$1.25bn ($880m) on Tuesday. A number of banks have visited the Aussie market in recent weeks to great success, and more are set to follow.

Getlink, the company that operates the Channel Tunnel, is preparing a €700m high yield green bond to refinance its 2023 bonds and raise cash for capex, including finishing off a landmark electricity connection between the UK and France. The refi comes after it negotiated waivers on the covenants in its term loan to deal with the impact of the pandemic.

The European Union impressed as it sold its highly anticipated debut syndicated bond under its Support to Mitigate Unemployment Risks in an Emergency (SURE) funding programme on Tuesday, with the deal receiving record breaking demand at minimal new issue premiums.

Deal arrangers say the euro market is wide open for the return US bank issuance, following a very successful trade from Bank of America this week.

Swiss duty free operator Dufry has finished its Sfr820m at-market rights issue, which has enabled Advent International and Chinese e-commerce firm to take large strategic stakes in the company.

Korea Development Bank took $1bn from a dual tranche transaction on Monday, using a social label for one portion of the bond to attract a new group of investors.

Simcere Pharmaceutical Group has bagged HK$3.57bn ($460.6m) from its IPO, after sealing the offer at the top end of the price guidance, according to a source familiar with the deal.

China Development Bank (CDB) raised nearly $3bn from dollar and euro bonds on Monday, appealing to investors due to its rarity in the debt market.

Ant Group has got the go ahead from regulators for the Hong Kong portion of its dual listing, which is expected to raise around $30bn in the largest ever primary share offering globally.