Banks

Deutsche hires for top job in Vietnam – ANZ names two MDs – Citi Korea CEO to retire

Ireti Samuel-Ogbu will replace Akin Dawodu as Citigroup's country officer for Nigeria.

The International Finance Corporation has mandated banks to lead a 10 year dollar bond in what will be the fourth public sector borrower to sell a bond in this part of the curve this week.

National champions have outpaced their smaller peers in the rally in bank bond spreads over recent months. Investors say individual valuations in the middle tier of the sector could pick up, but that the chances of consolidation may first have to improve.

The UK Municipal Bonds Agency is in the market with a £250m no-grow 40 year bond on behalf of Lancashire County Council. Initial price thoughts indicate the yield will be substantially below the rate charged by the government's Public Works Loans Board — the usual source of finance for councils.

German electricity company RWE has sold €2bn of stock to fund its long term ambition to grow its renewable energy capacity, via one of the largest block trades this year.

South Africa’s Standard Bank is set to raise a syndicated loan by the end of the month, which, according to market sources, will be provided by Chinese banks. But bankers say the pipeline for syndicated loans in Africa and the Middle East remains nearly empty, as both lenders and borrowers continue to feel the impact of the Covid-19 pandemic.

Yangzhou Urban Construction State-Owned Assets Holding (Group) Co continued the tight pricing trend for recent bonds from Chinese local government financing vehicles with a 68bp tightening.

Chinese biotechnology start-up HBM Holdings has filed for approval to float on Hong Kong’s stock exchange.

ICBC Financial Leasing Co chose price over size for its first outing to the dollar bond market this year, but still managed to raise a larger-than-expected $900m.

Hong Kong property company Hysan Development Co used a fixed-for-life structure for its $300m perpetual bond on Tuesday, taking advantage of the low interest rate environment to lock in pricing.

Nasdaq-listed Futu Holdings, parent of Chinese online brokerage Futu Securities, has raised $313.5m from a follow-on offering, hitting the market on the back of a more than 200% surge in its share price this year.