BNP Paribas

Zhenro Services Group, a Chinese property manager, has pulled off a HK$1.14bn ($146.8m) IPO, pricing the deal close to the top of the marketed range, according to a source close to the trade.

Four banks are set to sign the mandate letter for a $210m loan to support private equity firm KKR’s acquisition of India’s JB Chemicals & Pharmaceuticals.

Spanish issuers were out in Europe’s corporate bond market on Monday, with Cepsa and Merlin Properties raising debt, as bankers and analysts expect a few weeks of “opportunistic” issuance in the run-up to earnings blackouts.

Oatly, the Swedish company that makes oat milk, has signed a Skr1.925bn (€184m) club loan, on which the pricing can be adjusted if it hits sustainability targets.

Société Générale and Natixis may face more questions over their equity derivatives businesses when they release their second-quarter results. The issue is whether their structured products are inherently problematic or simply suffered from freak events.

Unrated Swiss private railway operator Rhätische Bahn, owner of the UNESCO World Heritage-listed Bernina railway, made its second stop in the Swiss franc bond market this week, four years after its debut deal.

Takeda Pharmaceutical was the standout issuer as US high grade corporate bond issuance ground to a halt this week, ahead of the July 4 holiday.

NRW.Bank’s inaugural social bond sparked a flurry of 15 year trades this week as a flattening French curve and the positive yields on offer helped spur on demand, with three issuers opting to follow the German agency’s successful trip to the maturity on Wednesday.

Belgium returned to the MTN market in euros on Tuesday with a 60 year note — its first private placement in the currency for over 18 months.

Poland has become the first CEEMEA country outside the eurozone to sell a bond with a negative yield since the onset of the coronavirus pandemic.

Banks backing Cinven, KKR and Providence’s take-private of MasMovil have boosted the size of the euro loan tranche in the market this week by €500m, cutting down the planned bond that will fund the remainder of the deal, the first major LBO announced in Europe since the coronavirus crisis.

Syndicate bankers are scrambling to make sense of the covered bond market, where sentiment has been changeable in recent weeks. Amid volatility and small issuance windows, sustainable bonds have proven a safe strategy to ensure successful deals.