Banks

State-owned Kuwait Petroleum Company has raised a syndicated loan from local lenders worth $3.27bn equivalent. The deal is one of the few major financings to take place in the Middle East during the coronavirus pandemic, and comes at a time when Kuwait faces critical economic challenges.

Link Mobility Group Holding, the Norwegian provider of business to consumer messaging and mobile services, has secured seven cornerstone orders for stock as part of its flotation in Oslo.

Just Group is hoping to strengthen its capital position by issuing a debut green bond in tier two format this week, while also buying back some of its existing tier three notes.

Indian conglomerate Reliance Industries has made a quick return to the loan market, raising a $1bn facility to refinance a bond maturing later this month.

Mr DIY Group has kicked off the roadshow for its MR1.5bn ($362.7m) IPO, set to be Malaysia’s largest listing in over three years.

Kering, the French luxury goods giant, has offloaded a €687m chunk of its stake in German sportswear company Puma, via an accelerated bookbuild.

The share price of Doosan Fuel Cell Co, a subsidiary of South Korean conglomerate Doosan Group, nosedived on Tuesday after affiliates of the parent raised a smaller-than-expected W198.6bn ($171.1m) from a block trade.

GAC-Sofinco Automobile Finance Co is readying a Rmb4bn ($589m) return to the auto loan asset-backed securities market, opting for the same structure as its last thinly priced deal.

Excellence Commercial Property and Facilities Management Group has hit the road with its IPO in Hong Kong. It is looking to raise up to HK$3.2bn ($413.4m).

International SOS, a Singapore-based emergency medical assistance provider, is making its debut in the syndicated loan market for $320m.

Risk appetite has returned to the high grade corporate bond market, with UK airport Heathrow and US drinks firm PepsiCo managing to move spreads by around 45bp during execution.

German railway wagon lessor VTG has sold €550m of private placements to institutional investors in Europe and the US, according to market sources. More and more, US PPs are being marketed to traditional Euro PP investors.