Banks

Hannover Re gave away a bit of premium for a new tier two this week, after it touched on the lower bound of the spreads available in the market for insurance capital.

Turkey Export-Import Bank has raised a €380m loan with a partial guarantee from the World Bank. The deal complements a successful first half of the year for Turkish lenders in capital markets, in which almost all the top tier banks have raised loans.

Two more bankers have ditched NordLB to take on DCM roles at Helaba, as the firm looks to expand its covered bond business.

Agence France Locale is set to sell its first ever sustainability bond, setting up virtual meetings with investors this week. Another debut issuer, NRW.Bank, has just announced details of its inaugural social bond.

Property managers Greentown Management Holdings and Zhenro Services Group launched bookbuilding on Monday for Hong Kong Stock Exchange IPOs.

The Dutch part of Air France KLM has taken a €3.4bn bailout package from the Dutch government, which some analysts said includes the possibility for the state to increase its holding in the entire group.

With SSA issuers' programmes rising to accommodate their responses to the coronavirus pandemic, the volume of deals transacted in niche currencies is closing in on a record high. With offshore interest in local currency deals healthy, however, many major banks are missing out on a busy and increasingly active market.

Anheuser-Busch InBev, the world’s largest brewer, received far below the €5.3bn-equivalent it had offered to buy back through a tender offer, as analysts still expect its leverage to remain at nosebleed levels for a company with a BBB+ rating.

OcuMension Therapeutics hit the market on Monday with its HK$1.55bn ($200m) IPO, the latest in a stream of healthcare sector listings on the city’s stock exchange.

Emerging market investors are anticipating a wave of corporate and FIG issuance from across the CEEMEA region, which they say will be welcomed with open arms. Russian petrochemical company Sibur is the latest such borrower looking to being a new bond, hosting investor calls on Monday.

A handful of Indian financial institutions have become the latest fallen angels, as pressure on the country’s economy and firms’ asset quality rises.

Two Asia-focused special purpose acquisition companies (Spacs) are looking to list on the US stock market.