Citi

The Philippines’ equity capital markets got another boost this week as Monde Nissin Corp was swamped by investors placing pre-launch bids for its upcoming billion-dollar IPO, set to be the country’s largest ever listing. The market is shaping up to be one of the busiest in southeast Asia this year, tapping into growth in the consumer sector. Jonathan Breen reports.

South Korean internet giant Naver Corp has returned to the debt market to tap its debut sustainability bond for another $300m.

Greece sold the first and only public sector benchmark deal of the week on Wednesday. However, issuers are preparing to return in force in euros and dollars next week, according to bankers.

CDP Financial, one of Canada's largest public pension asset managers, has mandated banks to arrange calls with investors for its first green bond.

Bombardier has exited Alstom, the French maker of rolling stock, having sold the last of its shares through a €506m accelerated bookbuild on Tuesday night.

Shinhan Financial Group sold a Basel III-compliant additional tier one bond with a sustainability label this week, funnelling some of the proceeds from the $500m trade to Covid-19 relief efforts.

Eni, the Italian oil and gas company, got its chunky €2bn hybrid capital issue comfortably oversubscribed on Tuesday, after a similar success for Orange last week. Corporate bond investors are piling money into anything that offers higher returns.

Greece was the only public sector borrower to announce a new benchmark transaction on Tuesday, picking banks to lead a new five year syndicated deal.

Emmanuel Regniez has left his position as head of France investment banking and coverage at Citi to take up a co-head role at Bank of America, as the latter beefs up its presence in the country.

Trans-Oil Group, a Moldovan agriculture company, is planning to roll over its one year pre-export finance (PXF) facility this summer, having recently sold its lowest coupon bond. The issuer has had, on occasion, far from a smooth ride in capital markets, including a failed attempt at a bond debut in 2018.

Vestas, the Danish wind turbine maker, has signed a €2bn-equivalent facility linked to key performance indicators around sustainability. It was the first time the borrower has structured bank debt in this way.

Fosun International has sold off a block of Tsingtao Brewery’s Hong Kong-listed shares for HK$2.34bn ($301m).