Banks

Export-Import Bank of India has closed the syndication of a $500m loan after securing eight banks.

Geely Automobile Holdings is one step closer to becoming the first Chinese automaker to debut in the Star market, having received stock exchange approval for a secondary listing in Shanghai.

Mongolia returned to the dollar bond market on Monday, ending a nearly three year hiatus. The sovereign borrower pulled off a $600m liability management exercise that has taken care of the country’s upcoming bond maturities.

French semiconductor maker Soitec has returned to the equity-linked debt market with a new €325m five year convertible bond, after a rally in its share price since March.

Experian Finance, a credit scoring company, was out in the sterling bond market on Monday as a slew of euro corporate bond mandates hit screens. But the flurry is unlikely to lift a lacklustre September and a final quarter issuance window stymied by the US election means that analysts expect euro debt volumes to be almost flat on 2019.

Adidas, the German sportswear company, has mandated for a €500m no-grow debut sustainability bond, its third issue since it obtained credit ratings over the summer.

Caesars Entertainment, the US casino operator, is in advanced talks to buy UK gambling company William Hill for £2.9bn in cash. The deal will be financed with an equity raising by Caesars of about $1.7bn and a new $2bn non-recourse loan, secured on William Hill's non-US assets. It may be the start of a cascade of M&A.

Caisse d’Amortissement de la Dette Sociale is set to return to the social bond market in euros after setting the size record for the format in the currency earlier this month — a feat it also recently achieved in the dollar market.

LBBW struggled to get going with a new green bond in the sterling market this week. It had to settle on a final spread at the wide end of its initial price thoughts.

The Arab Republic of Egypt has mandated banks to arrange its debut green bond, which will be the first sovereign green bond from the Middle East and North Africa. The deal, according to bankers, has been in the works for over a year and has been delayed by the Covid-19 pandemic.

Mizuho Financial Group will be looking to time the sale of a new senior deal very carefully this week, with euro market conditions still proving challenging for issuers.

Volvo Car, the Swedish manufacturer owned by China’s Geely Holding, sold a debut green bond this week, days after saying its freshly published green finance framework would help it transform into an electric car maker.