Citi

Malaysian oil company Petroliam Nasional (Petronas) raised $3bn from a dual tranche bond, just a day after the country’s sovereign made its dollar return.

BOC Aviation has sold a $750m bond through its US subsidiary, pricing its third dollar outing of the year at wider levels than some fair value estimates from analysts.

Corporate bond issues came at a healthy clip in the US market this week, despite earnings blackouts, as investors showed a preference for highly rated paper.

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.

Rating: —/AA+/AA+

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.

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.

Citi has named Alex Schrantz as head of banking, capital markets and advisory (BCMA) for Hong Kong.

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.

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.

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.

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.