Citi

Danish agency KommuneKredit mandated banks on Monday for its first euro-denominated bond of the year and the first euro syndicated public sector bond since mid-July, excluding German regions.

The Asian Development Bank returned to the Kiwi dollar market to print its largest Kauri deal since January 2018 this week. With the Inter-American Development Bank and International Finance Corporation set to follow with a pair of taps in the coming days, bankers are expecting a busy few weeks in the market as investors react to the recent surprise interest rate cut from the Reserve Bank of New Zealand.

The US corporate bond market continued to crank out investment grade deals despite fears of a global recession battering risk assets this week.

Zhenro Properties Group returned to the dollar bond market for the seventh time this year on Tuesday, tapping one of its March transactions for an additional $110m. But the market presented a whole different set of problems for the borrower this time round.

BUUK Infrastructure, a UK utilities firm formerly called Brookfield Utilities, has sold US private placements, according to market participants.

Vietnam’s Mong Duong Finance has launched a $484.71m borrowing into general syndication, in tandem with a bond it issued at beginning of the month.

Lloyds Bank dipped into dollars for senior funding on Wednesday, a day after UBS launched a deal in the same currency. A syndicate official noted that European financial institutions are being tempted across the Atlantic amid more inhospitable conditions in the euro market this summer.

Former JP Morgan banker Andrew Truscott has been appointed as co-head of UK investment banking at Citi.

Ingredients group Tate & Lyle has priced a $200m US private placement, in order to refinance a sterling bond set to expire in November.

Luxury sports car company Ferrari has sold €300m of US private placement notes, according to an SEC filing on Friday. Its debut offering is one of only a handful of transactions from the auto sector to reach the market.

Corporate borrowing activity is expected to be sustained throughout the second half of the year as borrowers "take advantage" of the liquidity in the loan market. The expectation comes in the aftermath of two large dividend recapitalisation transactions by Polish corporates, Allegro and Żabka, in the second quarter.

China Lesso Group Holding has launched a $900m four year borrowing into general syndication.