Banks

UniCredit returned to profit in the second quarter with a larger pool of excess capital to reward shareholders from next year, if the European Central Bank gives its permission.

Hope Education Group made its debut visit to the equity capital market this week, raising HK$1.2bn ($153m) after increasing the size of a primary share placement.

A glut of syndicated loans has been signed among European high grade borrowers that are for general corporate and refinancing purposes — a sign, said loans bankers, that the market is returning to business as usual for the rest of the year, marking what will at least be a change from the frantic emergency capital raising which began in spring.

Danish covered bond auction season is underway with Nykredit and Nordea announcing sales. August’s auctions also provide the last opportunity to buy certain 30-year callable bonds, of which one is the largest covered bond ever issued.

Ian Taylor has rejoined Goldman Sachs, as head of equity capital markets for Australia and New Zealand, following a short stint at a fintech-focused merchant bank in the US.

Investors threw their weight behind Housing Development Finance Corp's Rp140bn ($1.87bn) fundraising this week.

Recycling aluminium manufacturer Ye Chiu Group has returned to the loan market after a four year absence for a $150m deal to meet its refinancing needs.

CMB Financial Leasing Co returned with five year and 10 year dual-tranche bonds on Wednesday, selling the first decade bond from a Chinese FIG credit in more than a month as costs for longer-dated notes fall.

Chinese real estate borrowers swarmed the international bond market on Wednesday, raising a combined $1.05bn across four transactions.

Commerzbank expects its corporate division to remain under pressure from the coronavirus crisis in the second half of the year, after a second quarter where international firms rushed to take out debt products but the bank was stung by a large single provision, understood to relate to disgraced payments company, Wirecard.

The State of Lower Saxony mandated banks on Wednesday to run a 10 year euro benchmark on Thursday, as German states remain the only action in the public sector primary market.

Charles-Antoine Roche has joined Citi’s sovereign, supranational and agency syndicate desk after spending over a decade in the bank’s medium term notes business.