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Citi

  • ESR Kendall Square real estate investment trust is set to debut on South Korea’s main board this month, having wrapped up the final stage of a W357bn ($329m) IPO.
  • Indian data analytics firm Mu Sigma has closed its $95m refinancing loan after receiving commitments from three more banks during syndication.
  • Samhällsbyggnadsbolaget i Norden (SBB), the Swedish social housing company, ploughed through fair value on Tuesday with a debut social bond and return to the hybrid market, as tightening spreads encourage investors to keep their wallets open deeper into December.
  • Credit Suisse this week launched its inaugural structured note with a green use of proceeds. Interest in ESG-linked issuance is growing, with an increasing number of retail clients looking to invest in the product.
  • Emerging market bond mandates are continuing into the last month of the year, despite expectations that activity would quieten down after a jam-packed year of issuance. Kuwait’s Burgan Bank and Montenegro are among some of the CEEMEA issuers seeking to take advantage of unfalteringly attractive credit conditions.
  • Citi has picked Elissar Farah Antonios to be its new cluster head for the Middle East and North Africa, a newly created role.
  • Chinese electric vehicle manufacturer Xpeng is selling a chunk of new American Depository Shares (ADS) to fund research and development and further expansion.
  • Samhallsbyggnadsbolaget i Norden (SBB), the Swedish social property company, has hired banks for €1bn of new deals made up of a hybrid note and debut social bond, as risk appetite remains strong even heading into the middle of December.
  • Moncler, the Italian luxury jacket maker, has agreed to buy smaller domestic rival Stone Island in a €1.15bn cash and share deal, as corporate bankers expect cheap debt and Covid-19 recovery to create many M&A opportunities.
  • The FIG pipeline has slowed to a drip, with the upcoming ECB meeting and Brexit talks bookending what could be the last week of open windows for issuance.
  • Vesync, a home appliance retailer, kicked off the roadshow for its up to HK$1.55bn ($200.1m) IPO in Hong Kong on Monday, with the company's growth story during the pandemic expected to appeal to investors.
  • Banks bombarded the dollar market this week with a rich variety of trades in what promises to be a busy run-in to the end of the year with investors still in the hunt for primary deals.