Banks

The bank bond market burst back into life on Monday, with BNP Paribas and Commerzbank shedding light on favourable pricing conditions in euros following the summer break.

Barclays has hired Manuel Esteve from JP Morgan to lead its continental European equity capital markets business.

Germany will issue green Bunds every year in the future, hoping to “establish a green euro interest rate benchmark, thus creating added value for the sustainable finance market”, its government said on Monday, as it revealed details of its first two green bond issues.

Sweden began a series of calls with investors on Wednesday as it prepares to issue its highly anticipated inaugural green bond through syndication later this month.

New Zealand began marketing a tap of its outstanding April 2027 bond on Monday as sovereigns get moving for a busy period of syndications. Finland could follow up with the first post-summer pubic sovereign bond in a core currency later this week.

ABN Amro has become the 18th bank to call an additional tier one (AT1) in 2020, as refinancing conditions continue to improve, despite the impact of the coronavirus pandemic.

Chinese electric vehicle manufacturer XPeng has hit the road with its $1.1bn New York Stock Exchange IPO. It is the latest in a building pipeline of US listings by Mainland-based companies that are undeterred by rising tensions between the two countries.

A senior JP Morgan banker and head of its China securities joint venture has decided to leave his banking career for a job with a Hong Kong-listed Chinese drugmaker.

Oryx Stainless Group, a Dutch stainless steel company, has signed an €80m syndicated loan, refinancing a larger deal and moving some of its borrowing into Thai baht, in a rare secured borrowing base facility in the southeast Asian country.

Additional tier ones have been left behind in a recent rally across European credit markets, leading some analysts to champion the asset class as a rare source of yield.

TAG Immobilien, one of Germany’s largest residential landlords, has issued a new €470m six-year convertible bond, tapping into heightened investor interest in German housing companies during the pandemic.

Great Portland Estates, the UK real estate investment trust, has sold £150m of US private placements.