Banks

Shriram Transport Finance Co has scooped up Rp14.9bn ($199m) from a rights issue in India.

Social and sustainability bonds have blossomed in Asia amid the Covid-19 pandemic, with debt bankers expecting more supply from the asset class for the rest of the year.

Suez, the French utility, signed what it claims to be the first ever social revolving credit facility, using elements of green and sustainability-linked financing to create a new Covid-19 era structure to mitigate some of the financial fallout from the coronavirus pandemic.

UBS lit up the dollar market with a $2.6bn trade this week that went some way to filling the supply gap created by a lack of issuance from Wall Street’s big guns.

UK lenders used the second quarter of 2020 to ramp up their provisions against loan losses, greatly exceeding the market’s already high expectations for new reserves

Eric Bai and Alexander Paul have been appointed to the newly created roles of global co-heads of FIG coverage at HSBC.

Hangzhou Tigermed Consulting is set to pocket HK$10.7bn ($1.38bn) from its Hong Kong secondary listing, with solid support from Chinese and global investors driving final pricing to the top of guidance.

Redco Properties Group offered investors a hefty 11% coupon for its new bond on Thursday, using up the last of its offshore fundraising quota to raise $220m.

GLP and First Abu Dhabi Bank both tapped investors in the renminbi bond market on Thursday. The Singapore-based logistics facilities provider took Rmb200m ($28.6m) from a Panda while the Middle Eastern firm headed to the Formosa market.

The enduring health of the dollar new issue market was on display this week as companies emerged from earnings blackout to front-load funding ahead of the latest meeting of the Federal Reserve’s open market committee.

Citi, Deutsche Bank and Credit Suisse all launched pledges related to environmentally friendly financing this week, as banks face continued pressure to make their balance sheet greener. The details of the announcements also displayed how the idea of “transitioning” high-carbon companies to become more sustainable has become popular in banking.

Prosus made a barnstorming debut in the European bond market this week, a day after an impressive dollar trade. The Naspers e-commerce vehicle, which attracts investment grade and emerging market investor interest, saw €13.5bn of demand for its €1bn deal.