Citi

Two supranationals hopped into the Kangaroo market with environmental, social governance (ESG) bond taps this week, in a move that is becoming increasingly popular. With a local holiday this weekend marking the end of antipodean summer, bankers expect Australian dollar issuance to restart in the next few weeks.

Three CEE banks announced new bond issues this week. Armenia's Ardshinbank has printed a $300m five year bond, Credit Bank of Moscow sold a $600m five year and Sovcombank, another Russian bank, has released plans for a roadshow.

Three CEEMEA sovereigns — the Kingdom of Saudi Arabia, Romania and Ukraine — joined a market this week gripped with a frenzy of new issues. All three deals went well and drew praise and attention in their own rights.

Samhällsbyggnadsbolaget i Norden (SBB), the Swedish social infrastructure and residential property investment company, launched a hybrid capital bond on Thursday, offering investors the chance to pick up junk rated paper from an investment grade issuer.

Romania sold €1.4bn 2% 2032s and €1.6bn 3.375% 2050s on Tuesday, managing to get away half of the country’s €6bn funding target for 2020 in one swoop.

Credit Bank of Moscow sold its $600m five year bond “flat to the curve” on Wednesday, according to a syndicate official on the deal.

There was a burst of activity from Chinese pharmaceutical and biotechnology companies in the equity capital markets this week, as the sector took centre stage following the spread of a flu-like virus that has already claimed lives on the mainland. Jonathan Breen reports.

Samba Financial Group sold its $500m seven year bond on Wednesday from a book of $2.3bn. A syndicate official on the deal said that follow-on demand from the Kingdom of Saudi Arabia triple tranche print on Tuesday helped to propel the deal.

Green bond volumes reached a record level in 2019 and market participants think the sector is poised for another blow-out year. Korea South-East Power Co (Kosep) and ReNew Power Private gave a further boost to Asia’s growing green bond market this week, selling $750m of notes between them. Morgan Davis reports.

Sino Biopharmaceutical issued a zero coupon convertible bond on Wednesday, boosting the size to €750m as demand poured in from across Asia, Europe and the US, according to multiple sources close to the deal.

The European Investment Bank doubled up in capital markets on Wednesday, hitting screens for a fixed rate sterling benchmark and a Sofr-linked floating rate dollar note.

The Asian Development Bank came in tight for a 10 year euro deal, pricing close to the level of World Bank's seven year sold earlier this month