Banks

A recent surge in dollar bond supply tempered enthusiasm among investors for Vista Land & Lifescapes’ $200m outing.

Chinese high yield names continued to flow into the offshore market this week. Property developer RiseSun Real Estate Development Co took $250m from a 364-day bond, and financial firm Tongchuangjiuding Investment Management Group Co raised $300m.

Indian solar power company SB Energy pulled its planned dollar bond late on Monday after grappling with a soft market backdrop and investor demand for a juicy premium.

Cifi Holdings (Group) Co sold its first green bond on Monday, raising $300m from a deal that received $2.25bn of investor order at its peak.

Ayala Land Real Estate Investment Trust (AReit) has got the preliminary greenlight from the Philippines’ securities regulator for the country’s first Reit IPO.

Bank Rakyat Indonesia has opened a $1bn loan into general syndication with a group of 10 lenders at the helm.

A veteran Citi banker who had been with the US firm for nearly two decades has joined CMB International Singapore.

Tennet, the Dutch utility, has mandated for a long-telegraphed green hybrid bond, as the company looks to protect its credit rating during stakeholder discussions with the German and Dutch governments.

Following investor calls last Friday, two public sector borrowers hit the market for new dollar bonds on Monday, with IDB Invest going for a three year maturity and the Japan International Cooperation Agency making a rare appearance for a 10 year trade.

Australia and New Zealand launched their first syndications of their 2020-21 fiscal years on Monday.

Market participants expect that bank debt issuance activity will slow down in anticipation of earnings season over the next few weeks. But deal arrangers suggest banks will still be keen to access the primary market during this period, should conditions remain favourable.

The European Banking Authority is urging resolution planners to consider the real impact of Covid-19 on banks. It wants to make sure that resolution can be seen as a "credible" option in times of stress.