Banks

Online casino gaming company DoubleDown Interactive is planning a Nasdaq IPO, the first by a South Korean company in nearly a decade.

Greentown Service Group, a Chinese property manager, pocketed HK$2.71bn ($350.2m) on Tuesday after increasing the size of a primary share placement.

About $570m will be flowing into EM corporate green bonds in the next few months, after HSBC Global Asset Management and the International Finance Corp reached a third close on the fund they have set up to invest in them.

The European Investment Bank raised $5bn with a three year global benchmark on Tuesday, setting the stage for fellow SSA borrowers to tap the dollar market later in the week.

Italy and the European Union will reboot the euro public sector bond market on Wednesday after announcing syndications of new 10 and 15 year bonds, respectively. The deals will come ahead of the European Central Bank’s meeting on Thursday, in which it is widely expected to increase the size of its Pandemic Emergency Purchase Programme (Pepp).

Repsol, the Spanish oil major, had a rip-roaring time in the hybrid capital bond market on Tuesday, achieving bumper books and paying minimal new issue concessions for its dual tranche issue. But some bankers think the market is starting to look too exuberant and may be due a correction.

Airbus, the European aircraft manufacturer, flattened its curve on Tuesday with a €3.5bn three tranche bond issue that commanded €15.1bn of demand. But European syndicate bankers said it offered no read-across for whether airlines might return to the bond market soon and that their chances of doing a deal were distant.

Barry Callebaut, the Franco-Belgian chocolate maker now registered in Switzerland, launched a Schuldschein on Tuesday offering investors tenors "upon request" alongside two, five and eight year maturities. Robert Bosch did that too, when it reopened the market last month. This is a feature that arrangers say will increase in a post Covid world.

Ferrovie dello Stato Italiane, the Italian state railway holding company, has signed a €600m loan package that includes an environmental element. Europe’s loan borrowers are following the bond market away from pandemic crisis funding and back towards sustainability-conscious financing.

KommuneKredit has announced that it will begin purchases of two of its outstanding dollar bonds due to mature in 2021. At the same time, investors will be offered the chance to purchase new five year bonds.

Amadeus, the Spanish travel booking group, has signed a €1bn bridge loan to bolster its liquidity supplies through the coronavirus crisis, though some bankers expect the number of crisis loans being signed to shrink in the coming weeks.

Deutsche Bank was on target to launch its first ever green bond on Tuesday. Investors were piling into the deal, which was said to have included a healthy premium at the outset.