Banks

Prosus, the Dutch online consumer and investment company, pushed ahead with the dollar tranche of its planned multi-currency bond outing on Monday, with the borrower relying on the interest garnered during last week’s roadshow to smooth over jitters about the volatility in wider markets.

German pharmaceutical company, Phoenix Pharmahandel (Phoenix Group), held investor calls on Monday after mandating banks for a sub-benchmark sized offering in euros. The deal is the latest stab at funding by a pharmaceutical company — a sector which has lured greater numbers of investors thanks to the coronavirus pandemic.

Supermarket Income REIT, a UK grocery property investment company, has signed a £60m revolving credit facility, as sterling loans see a bump in demand.

The New Development Bank will kick off a series of calls with investors on Tuesday to provide an update on its borrowing programme and plan its second dollar bond, which is expected to follow in the coming months.

ANZ has altered the pre-maturity test of the hard bullet transactions in its covered bond programme, by doubling the time the covered bond guarantor has to sell assets. The "investor-friendly" update, which improves rating stability, follows ANZ’s recent downgrade and could be of interest to other issuers in a similar situation.

The additional tier one market is putting too much emphasis on the risk that banks will try and extend the lives of their bonds, according to Atlanticomnium, suggesting there is plenty of room for the asset class to rally this year.

Saudi Arabia has secured its inaugural green loan backed by an export credit agency (ECA). The deal, which is the first of its kind in the region, may have a domino effect on other sovereigns in the Gulf, said bankers.

Australia has launched its second syndication of its 2020-21 fiscal year on Monday morning, Sydney time, extending its curve out to 2051 with a new benchmark.

HSBC has become the latest bank to create a dedicated team for sustainable finance amid the coronavirus crisis. This is part of a new strategic solutions group, which will also house two other solutions units: one for corporate finance, and one for financial institutions and capital.

Indian Railway Finance Corp has returned to the Japanese market for a $300m-equivalent Samurai loan.

Li Auto, a Chinese electric vehicle maker, has opened books for an offering of American Depository Shares (ADS) on the Nasdaq.

Hangzhou Tigermed Consulting, a biopharmaceutical research and development service provider, has covered books on its secondary public offering in Hong Kong on the first day of taking orders.