Citi

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

Samhällsbyggnadsbolaget i Norden (SBB), the Swedish social infastructure and residential property investment company, has mandated banks to lead a €500m no-grow perpetual non-call 5.25 year hybrid capital bond issue. Bankers off the trade expect it to fly.

Three CEE banks have announced new bond issues this week. Armenia's Ardshinbank has printed a $300m five year bond, Credit Bank of Moscow has initial price guidance out on a dollar five year benchmark and Sovcombank, another Russian bank, has released plans for a roadshow.

The Republic of the Philippines hit the market with a pair of euro benchmark bonds on Tuesday, making a rapid comeback to the currency.

Korea South-East Power Co (Kosep) and ReNew Power Private gave a further boost to the growing green bond market on Tuesday.

Chinese biopharmaceutical company Zai Lab has kicked off a follow-on offering of its American Depository Shares. It is aiming to raise around $300m.