Banks

Prosus made a barnstorming debut outing in the European bond market after Monday’s dollar trade, with the ecommerce and investment company that straddles investment grade and emerging market investor interest seeing €13.5bn of demand for a €1bn deal.

STMicroelectronics, the French-Italian semiconductor maker, has raised $1.5bn through the sale of new convertible bonds, the company said on Tuesday.

Volotea, the Spanish budget airline, has signed a €150m syndicated loan backed by the state, as the Covid-19 battered aviation industry struggles to get going again after a series of devastating blows.

The European Central Bank recommended this week that banks do not pay dividends or buy back shares until the start of 2021 at the earliest. It is also calling for 'extreme moderation' over banker bonuses during the coronavirus pandemic.

Yorkie Wong, head of investment banking at Shanghai Pudong Development Bank, has left the firm.

Korea South-East Power Co (Kosep) has printed a $300m sustainability bond, in part to tackle the impact of Covid-19, becoming the third issuer from the country to tap the socially responsible investment market this month.

China Everbright Bank Co relied on the syndicate team running its deal for a $700m floating rate note on Monday.

Hong Kong-based Chong Hing Bank’s $250m Basel III-compliant additional tier one (AT1) bond received just muted demand from investors because of its tight pricing approach.

DaFa Properties Group raised $150m from its bond return on Monday, offering investors a hefty yield of 13.5%.

Siong Ooi, MUFG Bank’s co-head of debt capital markets, loans and bonds, has relocated to Sydney from Singapore.

Blackstone-backed Mindspace Business Parks Real Estate Investment Trust has kicked off a Rp45bn ($601.2m) listing in India.

Platform Housing Group, a UK social housing company, has mandated for a long term sterling benchmark trade, with the company borrowing as it takes on a major development plan.