Citi

Citi’s chief executive officer for India and South Asia has been made vice-chairman of Asia Pacific banking, capital markets and advisory (BCMA), according to a source close to the situation. It is a new position at the US bank.

South Korean discount store chain Homeplus is set to launch a real estate investment trust IPO next month, according to a source close to the deal.

Hansoh Pharmaceutical Group is preparing to kick off the roadshow for its Hong Kong IPO in February after Chinese New Year, according to a source close to the transaction.

Guarantor: Federal Republic of Germany

Guarantor: Financial Market Stabilisation Fund of the Federal Republic of Germany

Rating: Aaa/AAA

Rating: Baa1/A-/A-

Citigroup’s first green bond issue has been a long time in coming, but the issuer was elated with the result of the €1bn deal on Wednesday, which was sold into a bond market where investors had slammed the risk pedal to the metal.

Sterling issuance from non-UK SSAs kept up its record start to the year this week, as UK bank treasuries are searching for safe places to put sterling, afraid the country will leave the EU without an exit deal.

It was another sparkling week in dollars for public sector borrowers, with Asian Development Bank the pick of the bunch as it brought the tightest deal of the year so far versus Libor and US Treasuries. More supply is expected for next week, although some SSA bankers feel the market could do with a “breather”.

The socially responsible investment market in SSAs is picking up pace in 2019, with a supranational bringing a deal in a debut format and other issuers preparing inaugural trades.

Wider euro spreads versus swaps and Bunds had already led to some superstrong trades in the currency this year, but Spain outdid them all this week with the largest ever book for a public sector euro benchmark. Every other euro deal also attracted heavy oversubscription with minimal concession, paving the way for expected supply next week from a “large German agency in the short end” and a “central European sovereign in 10 years”, according to one head of SSA syndicate.