Citi

Emirates NBD is set to return to the dollar market, picking banks for a five year benchmark. The trade will be joined in the market by a dollar bond from UAE-based private healthcare provider.

China Development Bank Financial Leasing Co (CDB Leasing) raised $400m through its aviation leasing arm on Thursday, paying around 10bp of new issue premium for a three year floating rate note.

TFI Tab Food Investments, the owner of the Burger King chain in Turkey and China, has formally withdrawn its $220m IPO in the US after delaying it in February.

Clifford Capital has netted $300m from its third debt outing of the year. Despite the Singapore firm’s frequency in 2018, it still managed to attract investors due to its rarity factor.

Supranationals found heavy demand from investors for privately placed taps of outstanding dollar and euro notes over the past week, with Asian Development Bank printing particularly heavy volumes.

Volkswagen printed the biggest trade in its history as high-grade corporate borrowers blitzed the dollar market in response to the results of the US mid-term elections.

Two emerging market (EM) sovereigns hit the euro market this week: one debuting and the other returning after a year-long absence. Both deals met with warm receptions, giving some credibility to the notion that euro investors will be happy to stay in EM deals even as quantitative easing (QE) winds up and rates climb.

Rating: Baa3/BBB-/BBB

Utility company Snam has converted an existing €3.2bn revolving credit facility into a sustainable deal, joining the growing chorus of southern European firms switching their bank lines for environmental, social and governance-friendly financing alternatives.

Barito Pacific and Bank Rakyat Indonesia have returned to the international loan market for new fundraisings.

State-owned mining company Indonesia Asahan Aluminium (Inalum) closed a $4bn bond this week, letting loans bankers off the hook from a planned bridge facility. Addison Gong reports.

Barclays has hired Citi’s Tasnim Ghiawadwala as head of UK corporate banking.