Citi

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.

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.

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.

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.

New Development Bank will become the first issuer to hit the dollar market this week, announcing a five year benchmark, the proceeds of which will fund sustainable development activities and emergency support loans to its member countries.

Equate Petrochemical, the petrochemical producer part-owned by Kuwait, has laid plans to re-enter the international debt markets after less than a year since its last outing. The mandate comes just days after the IMF warned Kuwait to undergo fiscal consolidation after its economy shrank last year.

Citi is planning to hire around 2,300 people to support the expansion of its wealth management business in Asia Pacific, as the bank undertakes a restructuring that boosts focus on its four wealth centres.

Thai Beverage has postponed the multi-billion-dollar spin-off and listing of its brewery unit in Singapore, citing choppy markets and a surge in Covid-19 cases in Thailand.