Citi
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Salesforce found deep demand to secure $8bn and fund the biggest acquisition in its history as the dollar corporate bond market remained wide open in the run-up to the July 4 holiday weekend. -
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A trio of rare names made use of the attractive issuance conditions and strong appetite for credit to launch debut deals this week. Two of the borrowers — Illimity and Groupama — chose to print subordinated deals into this stable market, while Erste Bank Croatia sold its first public deal outside its home market.
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Citi has shaken up the top ranks of its corporate banking business in Taiwan following a senior banker’s decision to retire from the firm.
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Two infrequent names ventured into the euro market to print debut deals in subordinated formats on Wednesday. Italy's Ilimity bank raised €200m with its first tier two, while French insurer Groupama scooped €500m with its inaugural tier three bond.
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South Korea's Mirae Asset Securities raised $300m from its green bond on Tuesday.
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Bank of Communications Hong Kong has sold its first Basel-III compliant tier two bond. The deal was four times subscribed at its peak.
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Chinese ride-hailing giant Didi has raised $4.4bn from its New York Stock Exchange IPO, increasing the size of the float after investors pumped more than $40bn of orders into the book.
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LG Chem got an $8.5bn final book for a $1bn dual-tranche green bond this week, with the deal pricing through some fair value estimates and ending the South Korean chemical company's two year hiatus from the debt market.
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Logan Group Co used the last of its offshore debt issuance quota to price a $300m green bond on Monday.
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Citi has moved to bolster its UK investment banking team by poaching James Ibbotson from Deutsche Bank, the second real estate investment banker to switch firms in a matter of days.
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Groupama announced on Monday plans to sell the first tier three note with an environmental, social and governance (ESG) label, with bankers confident that the pick-up to non-preferred paper will entice green funds into the deal.
