Citi

Rating: A1/A

Guarantor: Joint guarantee from Belgium, France and Luxembourg

The African Development Bank (AfDB) said that it intends to enter the social bond market and will be roadshowing its social bond framework beginning October 19, it said this week.

Swiss food and drinks company Nestlé extended and replaced €11bn worth of one and five year loans on Wednesday.

Abu Dhabi Commercial Bank is set to come to market for a potential triple tranche kangaroo bond on Friday, following a deal from Emirates NBD that, according to a banker at one of ADCB’s leads, showed the market was still accessible to Middle Eastern borrowers.

JP Morgan and Citigroup gave earnings season a rocky start on Thursday, with fixed income revenues at both firms well down on last year, as record low volatility levels bite deeper into trading activity. But investment banking remained largely resilient, and Citi’s ECM numbers surged.

General Insurance Corp looks set to close the largest Indian IPO in seven years, after offering investors a whopping Rp113.7bn ($1.7bn) deal — and managing to cover 75% of the book on the first day. That was a rare show of early demand for an Indian listing, but the deal was simply too big to ignore, said local bankers. Jonathan Breen reports.

A trio of Asian firms listing in the US have received stellar responses to their IPOs, with Qudian, Rise Education and Sea all getting the thumbs-up from investors.

The Chinese Ministry of Finance (MoF) has begun mandating underwriters to issue two tranches of sovereign dollar bonds – the country’s first outing in the dollar market for more than a decade.

Citi has promoted Cecile Ratcliffe to markets head of France, Belgium and Luxembourg.

The Development Bank of Japan has managed to yank the spread in by 8bp for its third sustainability bond on Wednesday, which was still more than three times subscribed.

Edra Global Energy, the Malaysian power producer formerly affiliated with embattled sovereign wealth fund 1MDB, has started sounding out investors for its IPO.