Banks

Virtual goods platform Fulu Holdings has raised HK$890m ($114.8m) after pricing its IPO at the top of the marketed range, according to a source close to the deal.

Voluntary efforts could bring about a global market in trading carbon offsets, even before there is a statutory basis for this, according to the leader of a new taskforce launched by Mark Carney, former governor of the Bank of England.

Nissan Motor made its debut in the European bond market on Friday with a €2bn deal that investors would have liked larger and differently shaped, just a day after it had issued its first ever foreign currency bond, for $8bn.

The New Development Bank has appointed the syndicate to lead its second dollar benchmark, the proceeds of which will fund its coronavirus response.

Hungary returned to the Samurai market after a two year absence on Friday to sell the first ever sovereign green bond in the market, which formed part of its ¥62.7bn (€500m) four tranche deal, which the sovereign used to extend its debt curve while also introducing a new investor base to the credit.

Nationwide Building Society said this week that it was looking to reduce the size of 11 of its euro and sterling covered bonds through a tender offer, in an effort to optimise its funding and liquidity position.

Saudi Electricity Co, which is majority-owned by the kingdom of Saudi Arabia, has raised its debut green sukuk — making it the first green bond ever issued by a Saudi issuer, just months after the Ministry of Finance raised a green export credit agency-backed syndicated loan.

The UK Debt Management Office has selected the banks which will lead its second syndicated transaction of the month, a tap of its 0.5% 2061 conventional Gilt.

Seven Yankee banks stole a march this week in the race to frontload funding, as September got off to its usual red-hot start in dollars.

BNP Paribas has provided term loans to Altice Europe, whose founder Patrick Drahi has offered to buy €2.5bn of the shares he doesn't already own to take the French telecoms group private.

Michael Corbat is to retire from Citigroup in February, and Jane Fraser will step up as chief executive.

Credit Suisse has hired 11 researchers for Credit Suisse Founder Securities (CSFS), its Chinese joint venture securities house. The new employees are part of the bank’s bigger plan to expand its onshore presence.