Citi

Singapore’s Oversea-Chinese Banking Corp (OCBC) raised $1bn from a tier two subordinated note on Wednesday that was priced at a new low.

China Merchants Bank (CMB) sold its first green bond on Wednesday, taking $800m on the back of support from sustainability-focused investors.

The top investment banks will achieve substantially higher returns on equity this year, predicts analytics firm Coalition, after revenues in fixed income, currencies and commodities (FICC) soared in the first half of the year.

The European Stability Mechanism hit dollar the market on Wednesday with a five year benchmark — its fourth ever in the currency. Two Nordic issuers are set to follow suit on Thursday.

Saudi Basic Industries Corporation (Sabic) is seeking to raise a dual tranche offering this week. The deal is the latest in a flurry of trades from Gulf issuers seeking to take advantage of attractive market conditions amid low oil prices and increasing Covid-19 related costs.

All eyes in the primary euro public sector bond market are fixed on the expected arrival of Germany's green Bund this week, but there were still some other deals announced on Tuesday. Greece is sticking to its plan for a syndicated bond issuance every quarter and Berlin hopes to match the success of its compatriot Land NRW in the 30 year part of the curve.

The Arab Republic of Egypt has secured its debut syndicated conventional and Islamic facility from a range of local and international lenders as it attempts to support the state budget, which has come under major pressure during the coronavirus crisis.

Norilsk Nickel, the Russian metal and mining company which has found itself under heightened scrutiny in recent months after a series of major oil spills, is set to raise a dollar denominated benchmark bond this week. Russian telecom major Veon was also in the market for its second rouble offering in recent months.

Veolia Environnement, the French water and waste firm, has made an unsolicited €2.9bn bid for a 29.9% stake in compatriot rival Suez. The target company’s board has rebuked the offer without rejecting it outright, though it has created a committee to fully analyse the potential purchase.

The UK Debt Management Office has chosen the banks to lead the first ever 15 year Gilt to be sold via syndication, which will hit the market next week

Citigroup has beefed up its presence in France by hiring Robin Rousseau, Deutsche Bank’s head of M&A for Europe, the Middle East and Africa.

Property manager China Resources Mixc Lifestyle Services is planning an IPO on Hong Kong’s stock exchange, getting the ball rolling with an application to the bourse this week.