Citi

Bank of America makes Vicario EU CIB head — Citi names Iberia heads — Daiwa swaps Purton for Caillebotte

The European Investment Bank (EIB) braved “horrendous” market conditions in order to print the first Sofr trade linked to the Federal Reserve’s index.

Citi has reshuffled positions in its Europe, Middle East and Africa business, including forming a new position for crisis and climate risk and naming a new head for European businesses.

The Republic of Belarus will roadshow a dollar and euro dual trancher next week, but made it clear in the mandate announcement that there may be a wait before the bond is printed.

Artificial intelligence company Megvii Technology’s IPO prospectus expired on Tuesday. But despite delaying the deal, the firm intends to resubmit a listing application, according to a source familiar with the matter.

Bank of China took Covid-19-linked bonds offshore on Thursday with a dual currency two year transaction, which was offered through its Macau branch.

The European Investment Bank is out with its first Sofr-linked floating rate note structured with a ‘shift’ coupon calculation rather than the ‘lag’ methodology which it introduced to the Sofr FRN market in June 2019.

MTN deal volumes year-to-date have slumped by nearly a third year on year, falling from $51.6bn in 2019 to $35bn this year. The fall has been particularly pronounced in core currency deals, with deals from other currencies forming a larger proportion of the market.

Alvaro Revuelta and Jorge Ramos have been picked as co-heads of investment banking in Iberia for Citi.

Bank of Communications’ Basel III-compliant additional tier one bond issuance went as expected on Tuesday, despite a dip in investor sentiment due to the rapid spread of the coronavirus.

The European Stability Mechanism has requested its primary dealers or ‘market group banks’ to set up entities within the 27 member states of the European Union in order for them to participate in bond auctions by the supranational and its sister issuer, the European Financial Stability Facility.

The Arab Republic of Egypt has hired a group of international banks to arrange its debut green bond. Though the deal will be the first sovereign issue of its kind in the Middle East and North Africa region, it adds to a string of green issuance from corporates and banks, which are developing a taste for ESG-linked debt.