Citi
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Europe’s corporate bond market hosted a debut sustainability-linked bond and two multi-part trades this week, despite overall issuance winding down as earnings season gets under way. -
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Iberdrola, the Spanish utility, has signed a €2.5bn sustainability-linked loan, becoming the first Spanish company to use risk-free rates as a benchmark instead of Libor.
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Airtel Africa, the UK telecommunication company providing services across Africa, has raised $500m from a range of international lenders. It becomes one of the latest Africa-based issuers to inject activity into the syndicated loan market.
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Citi has named Alex Schrantz as head of banking, capital markets and advisory (BCMA) for Hong Kong.
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Danfoss, a Danish engineering firm, and UK bottling company Coca-Cola European Partners found the biggest demand at longer maturities in their multi-tranche bond issues on Wednesday, as inflation fears fade from Europe’s corporate debt market.
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Coats, the UK industrial thread producer, has signed a $360m loan, adding environmental, social and governance metrics to its bank debt for the first time.
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Korea Hydro & Nuclear Power, a subsidiary of Korea Electric Power Corp, has printed a $500m bond after getting five times the demand at the peak of bookbuilding.
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Sovcomflot, the majority state-owned Russian shipping company, defied some market participants' expectations on Tuesday by coming to market to raise dollar debt just days after a fresh wave of US sanctions on Russia.
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US-listed Zai Lab and Futu Holdings are tapping the equity market for funds through follow-on offerings, with both the Chinese companies launching their transactions after a rally in their stock price.
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Citi's head of EMEA banking, capital markets and advisory, Phil Drury, is relocating to San Francisco to take charge of a new franchise covering technology and communications.
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A handful of investment grade corporate borrowers are out with mandates on Monday, with market conditions improving for them after last week’s bonds have traded tighter despite pricing with small premiums.
