Citi

Hamburg Commercial Bank is getting ready to issue a new tier two capital bond with an unusual five year tenor, as part of its efforts to reconnect with investors following its privatisation in 2018.

US-listed Chinese companies Zai Lab and Baozun have kicked off secondary offerings on the Hong Kong Stock Exchange, adding further momentum to the city’s already hot equity capital market.

Bank of China took yet another step this week to build China’s sustainability market by selling Asia’s first blue bond to benefit ocean-related projects — opening the door for similar deals from the region. Morgan Davis reports.

The Republic of Bulgaria issued a €2.5bn dual-tranche bond on Tuesday to support its expanding state budget, following a raft of its regional peers which are responding to the Covid-19 crisis with substantial deals.

UniCredit sold a $1bn non-preferred senior bond in the dollar market this week, as it made further headway on its total loss-absorbing capacity (TLAC) plans for next year.

Bangkok Bank sold its first Basel III-compliant additional tier one dollar bond on Tuesday, making it a rare bank capital offering from Thailand.

Ming Yuan Cloud Holdings is set to wrap up bookbuilding for its up to HK$6.2bn ($796.7m) Hong Kong IPO on Thursday, following a flood of demand from global investors, according to two sources close to the deal.

Mainland-based logistics company ZTO Express (Cayman) has hit the road with its Hong Kong secondary offering, with two other Chinese US-listed firms hot on its heels.

French agency Cades and the International Development Association returned to the dollar market for the first time since the summer break on Tuesday to bring a pair of five year socially responsible deals.

Munich Re was able to attract €5.7bn of orders for a new tier two on Tuesday, its first in green format. The issuer printed the deal through fair value using the momentum gained through the books.

Anita McBain, head of responsible investment and environmental and social governance at M&G Investments, is joining Citi as head of ESG research for Europe, the Middle East and Africa.

Bank of China printed Asia’s first blue bond on Monday, with plans to use the roughly $940m raised to benefit ocean-related sustainability projects.