Banks

Severn Trent, the UK water utility, achieved blowout demand on Tuesday for its sustainable bond, as bankers say the focus in the high grade market is shifting from crisis mode back to socially responsible debt.

A pair of French banks visited the five year point of the Kangaroo curve on Tuesday. BPCE raised A$650m of senior preferred paper, while BNP Paribas mandated for a senior non-preferred deal.

The New Development Bank is looking to take advantage of the strong demand in dollars by bringing its long-awaited inaugural trade in the currency as part of its response to the coronavirus pandemic.

The Republic of Estonia has mandated for a 10 year benchmark bond, as it prepares for its first foray into bond markets since 2002.

Banque Fédérative du Crédit Mutuel tested appetite on Tuesday for a 10 year non-preferred senior deal, with supply in the asset class having slowed to a near standstill during the coronavirus pandemic.

JP Morgan has started syndication on a refinancing loan for Micro Focus, a deal first marketed at the end of February but pulled in the first week of March, in a further sign that the loan market is healing enough to start clearing the overhang of pre-coronavirus financings.

Saudi Arabia is set to raise its inaugural green loan with export credit agencies next month. The groundbreaking loan would be the first of its kind in the Middle East.

Chinese pork producer Muyuan Foods has set the ball rolling on its debut $200m offshore loan.

Metals and mining company Vedanta Resources is seeking a bridge loan of $2bn to $2.5bn to take its India-listed subsidiary private.

Chinese online payments platform Yeahka rode on strong demand from both institutional and retail investors for its Hong Kong IPO, to price the HK$1.64bn ($211.9m) deal at the top of guidance.

Burning Rock Biotech is planning to float on Nasdaq for as much as $100m.

Bank of America has promoted Anvita Arora to co-head of Asia Pacific equity capital markets, according to a memo seen by GlobalCapital Asia.