Citi

Ontario Teachers’ Finance Trust (OTFT) is preparing to issue its inaugural green bond under its new framework aligned to the International Capital Market Association’s Green Bond Principles.

Deal arrangers expect banks will take advantage of a positive tone in the euro market by bringing forward their plans for non-preferred senior issuance, following in the footsteps of CaixaBank and ING Groep on Tuesday.

German insurer Allianz was met with a wall of demand for its debut restricted tier one (RT1) bond this week — a deal that could play an important role in the development of the asset class.

Hamburg Commercial Bank will no longer proceed with its planned tier two bond, having already attempted twice this year to bring one to the market. Its focus is now turning to issuing senior non-preferred and additional tier one (AT1) paper.

Gland Pharma, a subsidiary of Chinese conglomerate Shanghai Fosun Pharmaceutical Group, has started bookbuilding for its Indian IPO, set to be the largest pharmaceutical listing in the country.

The European Financial Stability Facility made a quick and impressive visit to the euro market on Monday, concluding its funding needs for the year, ahead of the European Union’s second outing under its Support to Mitigate Unemployment Risks in an Emergency (SURE) funding programme, which is expected to be priced on Tuesday.

European issuers are set to return to the subordinated debt market this week, following the confirmation of Joe Biden’s victory in the US election on Saturday. First off is NatWest Group, which reopened the additional tier one (AT1) market on Monday with its first venture into sterling.

Chinese property manager Sunac Services Holdings has hit the road for its Hong Kong listing, eyeing HK$8.7bn ($1.1bn) in fresh equity.

China Resources Mixc Lifestyle Services has begun testing investor appetite for a Hong Kong listing that could raise around $1bn, said a source close to the deal.

Antengene Corp, a clinical stage biopharmaceutical company, has set its Hong Kong listing in motion. It has opened bookbuilding for an up to HK$2.79bn ($359.4m) IPO.

Vattenfall, the Swedish energy company, has swapped its €2bn bank line with a sustainability-linked facility, with the deal defining the borrower’s core banking group.

Chinese property manager Jinke Smart Services Group has launched its IPO. It is aiming to pocket up to HK$6.3bn ($815.9m) from the deal.