Citi

International bond investors have admitted to being impressed at the market’s capacity to absorb local currency paper after Peruvian conglomerate Alicorp sold the second global sol bond in the space of a week.

Sentiment in the dollar corporate bond market remained upbeat this week, even after jumbo deals from Broadcom and Saudi Aramco traded softly.

Diamond hires ex-colleague at Atlas — Salorio leaves DCM head vacancy at Soc Gen — Forese to retire from Citi

Ineos, with a split high yield/investment grade rating, announced a drive-by €770m seven year non-call three bond issue on Monday, refinancing its 4% 2023 bond of the same size.

James Forese is leaving his position as CEO of Citigroup’s institutional clients group. He will be replaced by Paco Ybarra, his deputy. The CEO of Asia Pacific is also leaving.

Nexi, the Italian payments firm listing in Milan, is to price its IPO at €9 a share, just off the bottom of its initial price range.

Singapore’s United Overseas Bank this week set a new benchmark after the country introduced an enhanced bank resolution regime allowing the statutory bail-in of subordinated debt. Addison Gong reports.

Bank of China sold another blockbuster Belt and Road transaction on Wednesday, raising $3.8bn across eight tranches of notes in five currencies across five bank branches, It was the largest transaction sold under the BRI label.

India’s JSW Steel raised $500m in an opportunistic transaction on Wednesday, marking the company’s first dollar bond in two years.

Conglomerate Alicorp sold the second global nuevo sol bond to emerge from Peru in a week on Wednesday, copying the execution pattern that worked well for Telefónica del Perú last week and pricing inside its lower-rated compatriot.

Saudi Aramco’s hotly anticipated $12bn bond was priced yesterday with the fanfare investors had expected. Demand for the deal was so large that the sovereign rallied 20bp as the deal printed, but stated final orderbooks of $92bn are being questioned as two investors say only the 30 year tranche is still bid above re-offer. The leads disagree, though, with one saying he saw all the tranches above their pricing levels.

Maja Torun will become co-head of French investment banking at Citigroup, according to an internal memo.