Citi

Finnish chemical company Kemira has signed a €400m revolving credit facility, becoming the latest firm to switch its bank debt to sustainability-linked margins.

Despite the very attractive conditions in Europe's corporate bond market in recent weeks, some less regular issuers have missed out on them because they were scared off by the rough markets at the beginning of the year.

Auchan, the French supermarket chain, issued its second bond of the year on Tuesday, but the first since Standard & Poor's downgraded it in March to BBB-, leaving it on a negative outlook, after a weaker than expected trading performance in 2018.

KfW and SFIL printed $4.25bn of debt on Tuesday, with both deals looking as if they paid a few basis points over fair value. That marks a return to new issue premiums in the dollar market for sovereigns, supranationals and agencies.

Nexi, the Italian payments company, has fallen by almost 8% on its first day of trading after its Milan IPO last week. High volume selling at the beginning of the day has hurt the stock.

Citi’s institutional clients group registered a higher revenue in the EMEA region than it did in North America in the first quarter of the year, the first time this had happened in more than six years.

Shriram Transport Finance Co turned to US investors on Monday to help seal a $500m high yield bond, just weeks after selling a $400m Reg S trade.

Latin America’s largest telecoms company, América Móvil, sold dollar bonds for the first time in seven years on Monday, returning to refinance debt and establish two benchmarks.

Last week's brief quieter spell for investment grade corporate bond issuance in Europe continued this week, with little appearing on screens. What did appear, however, tantalised many investors. On Monday, Sika, the Swiss chemicals and building materials company, managed to slash its pricing while achieving plenty of oversubscription on its first ever bond issue in euros, as it financed its planned acquisition of Parex Group.

Chinese smart wearable technology company Huami is issuing new shares through a follow-on American Depositary Shares (ADS) offering of up to $150m.

Hansoh Pharmaceutical Group has refiled its long-anticipated Hong Kong IPO. The Chinese drug maker first planned to go public in 2016, and was said to be readying a roadshow for its IPO as recently as February.

Citi’s Asia Pacific chief executive Francisco Aristeguieta is leaving to join State Street. The search is on for a longer-term replacement but his job will be filled in the interim by Citi’s productivity head.