Citi

The Asian Infrastructure Investment Bank and the New Development Bank made a big splash in the dollar market on Tuesday, despite facing worse volatility than expected as fears over the coronavirus pandemic grew.

Financial institutions are waiting to see whether investors will step back into the credit market before attempting to bring new deals forward this week.

Following investor calls last week, the Asian Infrastructure Investment Bank and the New Development Bank hit screens on Monday to announce new dollar benchmark transactions, which will be used to support their member states in the fight against the coronavirus pandemic.

First Abu Dhabi Bank, the highest rated lender in the Middle East, has mandated bookrunners to lead a perpetual non-call six year additional tier one (AT1) capital issue.

Ming Yuan Cloud Holdings has sealed its Hong Kong listing at the top of the marketed range, netting HK$6.2bn ($796.6m) following a strong turnout from sovereign wealth funds and long-only investors.

Delta Air Lines raised $6bn this week, joining the September stampede by companies to plug their bank accounts and lock in cheap funding.

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Banks and insurance companies were falling over one another to issue green bonds this week, with deal arrangers seeing ESG labels as near infallible ways of bringing pricing through fair value, write Tyler Davies and David Freitas.

García and Gutman given new roles at Goldman — Mizuho hires in convertible bonds — Smida and Coudray handed coverage leadership at Natixis

Belgium and Ireland both tapped the ultra-long end of the curve this week to continue a record breaking year for euro-denominated MTNs of 50 years or more, as insurers look for returns amid low rates.