Citi
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QBE sold $500m of additional tier one debt in the dollar market this week, as it sought to shield itself from the financial impact of the coronavirus pandemic. -
Citi has promoted Prosenjit Saha as head of loan sales for Asia Pacific, a newly created position at the bank.
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Citi has made two senior appointments to its corporate banking business in Asia Pacific.
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Luxshare Precision, a Chinese designer of cable assemblies, has launched a $500m loan into syndication, hiking up the margin on offer due to changing market conditions caused by Covid-19.
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The UK Debt Management Office has chosen the banks to lead what will be the first of an unprecedented two syndicated offerings in a single calendar month as it prepares to finance a substantial increase in its borrowing requirements.
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The European Investment Bank and the Region of Madrid stood out in the public sector bond market this week, with the former achieving its biggest ever order book for a euro benchmark.
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Corporate bond bankers expect May to be a blockbuster month, as syndicate officials say that coronavirus pandemic fatigue has set in and the market has stopped worrying about it.
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Signify, the Dutch lighting company, got roaring demand for its acquisition bridge takeout bond on Thursday — its maiden issue — as it tempted investors with an eye-catching initial spread.
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Equity collars rarely make a public appearance in Asia’s capital markets. but Citi has shone a light on the product, after using a block trade to hedge its position in a collar it had structured for a high net worth client. Bankers think the deal will drive more demand for the structure. Jonathan Breen reports.
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The Republic of Lithuania joined the ranks of top tier emerging markets issuers proving their access to bond markets in the teeth of the coronavirus pandemic on Tuesday, as it broke its issuance record with a €2bn dual tranche trade.
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The Republic of the Philippines printed one of its largest bonds on record this week at exceptionally tight levels, taking $2.35bn from a dual-tranche deal. The sovereign gave investors what they wanted: long tenors, attractive initial pricing levels and full clarity on the impact of Covid-19 on the country, writes Morgan Davis.
