Citi

The World Bank seemed to find the point of investor exhaustion with its 10 year dollar deal on Wednesday following a recent spate of successful similar deals from other borrowers.

Citigroup launched a senior unsecured bond in the sterling market on Wednesday, just as the UK government appeared to be making some progress over its Brexit deal with the EU.

BPCE and Banca Farmafactoring launched senior deals this week, with both issuers enjoying healthy receptions to their offerings. BPCE’s non-preferred mandate drew over €2.75bn of orders and the Italian issuer saw its preferred bond attract €850m at the spread level.

China Construction Bank returned to the international bond market on Tuesday, turning to dollar and euro investors with two separately-executed deals worth a combined $1.551 billion.

Vedanta Resources has made a quick loan comeback for a $500m borrowing.

India oil refining and petrochemical company HPCL-Mittal Energy found support for its $300m bond sale on Tuesday, after offering investors a generous premium.

Chinese online education platform Youdao has launched bookbuilding for its New York Stock Exchange listing, eyeing up to $100.8m from the deal.

JP Morgan, Citi and Goldman Sachs kicked off the third quarter results season for investment banks on Tuesday. While debt and equity underwriting revenues grew substantially at JP Morgan compared with the equivalent quarter of last year, they fell at Goldman.

Running in parallel with the rapid growth of the green bond market have been the numerous labels for these bonds. But the abundance of green labels risks confusing investors and diluting an important vehicle to finance projects to clean up the planet.

The World Bank appointed banks on Tuesday to lead its first 10 year dollar benchmark in almost two years to join a flurry of SSAs who have recently ventured into this rarely visited part of the curve in the currency. Meanwhile, Finnvera has mandated banks for its second syndicated trade of the year.

Nigeria’s Seplat Petroleum is in advanced staged talks for an around £382m cash acquisition of London-listed Eland Oil & Gas, with the buyer partly financing the deal with a new loan.

China Lesso Group has increased a four year borrowing to around $1.1bn, after attracting 16 lenders during syndication.