Banks

Green bonds made up the majority of the supply in the euro bank bond market on Thursday, with Hypo Noe and Santander capitalising on strong demand for the asset class.

Stephan Gimpel is leaving Citi to pursue an opportunity in fintech, after 14 years in the US bank’s debt capital markets business.

China Pacific Insurance (Group) Co became the second company to use the London-Shanghai Stock Connect scheme this week, listing Global Depository Receipts on London’s bourse. The deal could spur further London-bound issuance by Chinese firms, according to bankers in the UK and Asia. Jonathan Breen and Aidan Gregory report.

European banks joined a flurry of US corporates in the dollar bond market this week, capitalising on favourable conditions to issue deals in large sizes and at negative new issue premiums.

The Asian equity-linked bond market was flooded with deals on Wednesday as Far East Horizon, 3SBio and China Mengniu Dairy tapped investors for a combined $760m.

Hong Kong power generator Castle Peak Power Co took the nascent transition bond market a step further this week, selling a $350m deal that showed the potential for the sector. Morgan Davis reports.

Canvest Environmental Protection Group Co, a Hong Kong-based waste-to-energy company, has returned to the loan market for a HK$1.97bn ($251.6m) unsecured deal. In an unusual move, the firm will postpone its covenant tests for the first six months. Pan Yue reports.

Hong Kong-listed oil company Hilong Holding pushed back the exchange deadline for its 2020 bond for the fourth time this week, leaving only a weekend between the exchange deadline and the notes’ maturity on Monday.

Chinese chemical company China National Bluestar (Group) Co raised $500m from a subordinated perpetual bond on Wednesday.

Banco de Sabadell proved very popular with a short-dated euro senior deal this week, after issuing in an unusual three year non-call two maturity structure.

Helvetia Holding, the Swiss insurance group, has raised Sfr300m from equity investors to fund its acquisition of Spanish insurer Caser, which it announced in January.

United Utilities, the UK regional water company, reopened its July 2033 notes on Thursday for another £50m ($62.06m), as anticipation grows for at least another £100bn of quantitative easing from the Bank of England.