Banks

Mizuho Bank said it had hired former Lloyds banker John Feeney as head of its European corporate finance department, responsible for growing European corporate banking.

Mandates are rolling in for high grade corporate issuers, as syndicate bankers disagree about whether the blistering pace of the market can last.

London-listed UAE payments company Network International has refinanced an existing loan, raising $525m from regional and international lenders.

Lloyds Bank Corporate Markets spied an opportunity to launch a new senior bond on Thursday, with credit markets performing well despite the tougher backdrop in equities this week.

Oil firms burst into the corporate bond market on Thursday with BP, Royal Dutch Shell and OMV opening books on multi-tranche trades, as comments from US president Donald Trump sent oil prices rocketing.

Dollar high yield buyers showed up in force for the largest priming debt opportunity provided so far by the coronavirus crisis, Carnival Corporation’s $4bn rescue offering, priced alongside a convertible and an equity capital raising on Wednesday. The package provides funds for the stricken cruise operator until November, but even if the company can’t start sailing again this year or next, investors in the new issue are first in line for the firm’s $38bn of assets.

Hong Kong saw a pair of block trades this week as WuXi Biologics Holdings offloaded HK$4.6bn ($599.4m) in WuXi Biologics (Cayman) stock and Viva China sold HK$1.51bn in Li Ning Co shares.

Dyson has become the first UK company to sell private placements in the past month, as the coronavirus complicates primary issuance and the market instead focuses on amendments to existing deals. Sources said the UK manufacturer succeeded because it was realistic over the price it would have to pay.

New Development Bank, a multilateral development bank established by the five BRICS countries, sold a Rmb5bn ($704m) three year Panda bond on Thursday. All proceeds will be used to fund an emergency loan NDB recently promised to three Chinese provincial governments to help them combat the Covid-19 outbreak. Rebecca Feng reports.

The Reserve Bank of New Zealand will prevent its financial institutions from redeeming subordinated bonds during the coronavirus pandemic, putting itself in contrast with other parts of the world, where banks remain free to manage their debt capital as they see fit.

Hong Kong's AIA Group and China's Baidu reopened the Asian bond market this week, proving that investors are still willing to commit to the right credits ─ as long as they come at the right price. Morgan Davis reports.

Turkey’s Akbank has refinanced a syndicated loan with tighter margins than its existing facility, as lenders demonstrate unwavering appetite for Turkish debt.