Banks

Sweden is preparing to issue a two year dollar bond in what is likely one of the final syndicated deals from eurozone sovereigns this year.

The European Financial Stability Facility mandated banks on Monday to lead a euro dual tranche transaction in what could be the issuer’s first and final outing of the fourth quarter.

A trio of firsts are coming to the high grade corporate bond market this week, with a debut hybrid from Italian oil and gas firm Eni, a green first for French chemicals company Arkema and a postponed entry to the Eurobond market for Danish pharmaceutical firm Lundbeck.

Green, social and sustainable issuance has dominated the supranational and agency bond market for a whole month, consistently outpacing conventional supply. That trend looks set to continue with three SRI deals already on screens.

Argenta Spaarbank announced plans for a new non-preferred senior deal on Monday, as it looks to take advantage of the supportive tone set by other rare borrowers last week.

The European Banking Federation (EBF) has called on regulators to be more flexible in handing out minimum requirements for own funds and eligible liabilities (MREL) to newly merged businesses, as a way of encouraging consolidation.

Saga, the cruise line operator and provider of retirement services to the elderly, has finished a multi-leg £150m ($193m) recapitalisation intended to repair its balance sheet following a collapse in bookings owing to the Covid-19 pandemic.

Goldman Sachs has appointed Iain Drayton as co-head of investment banking for Asia ex-Japan, according to an internal memo seen by GlobalCapital Asia.

ONGC Videsh (OVL), the overseas arm of India’s state-owned Oil and Natural Gas Corp, has picked six banks for a $700m borrowing.

Philippines-based internet services provider Converge ICT Solutions has kicked off the roadshow for its up to Ps28.6bn ($590.4m) IPO, set to be the country’s largest ever public offering.

One of Doosan Fuel Cell Co’s major shareholders is offloading its stake in the South Korean eco-friendly cell maker for up to $353m-equivalent.

Indonesian property company Alam Sutera’s move to kick off an exchange offer last week to stave off pressing financial concerns was met with ratings downgrades from two of the three global ratings agencies.