Citi

The Brexit vote has damaged banks’ UK hiring plans and left their revenue projections in tatters, but the country’s status as Europe’s biggest fee pool will remain intact, writes David Rothnie.

Swedish Export Credit Corporation had to boost the size of a deal on Wednesday as investors flocked into its books, adding to a strong run for short dated dollar issuance over the last few weeks.

The European Investment Bank returned to capital markets with a splash on Tuesday, indicating that, what passed for 2016’s summer break is coming to an end.

The Hong Kong equity capital market is coming back to life with Jacobson Pharma Corp beginning pre-deal investor education on Wednesday for its up to $150m IPO.

Indian pharmaceutical firm Laurus Labs is planning to go public this year with a Rp10bn ($149.0m) IPO, according to sources familiar with the deal.

The European Investment Bank kicked off post-summer jumbo dollar issuance on Tuesday with a well-received five year deal, as another issuer jumped in with a shorter dated mandate.

Swedish industrial machinery firm Atlas Copco received eight times the demand required for a €500m 10 year bond on Tuesday, signalling the end of the summer break in the corporate bond market.

Sparebank 1 Boligkreditt on Tuesday followed Commerzbank into the covered bond market. By coming 20bp back of Commerz, the Norwegian sale was much smoother.

India’s National Stock Exchange has appointed four banks, Citi, JM Financial, Kotak Mahindra Capital and Morgan Stanley, as joint global co-ordinators for its domestic IPO.

South Korea’s Small & Medium Business Corp (SBC) pulled in $500m on Monday from its return to the debt market after a hiatus of 10 years. The combination of a recent credit rating boost and its rarity allowed the issuer to price the bond in line with policy banks.

Investors are set to welcome a new Chinese local government financing vehicle to the bond market, with Chongqing Western Modern Logistics Industry Zone Development Construction hitting the road for its maiden dollar outing.

African Development Bank has sold a GHS5m ($1.26m) 16% one year note to an offshore investor.