Commerzbank

Woori Bank this week became the first non-Chinese bank to print an additional tier one (AT1) bond in Asia ex-Japan. The Korean lender was able to achieve the lowest coupon globally for an AT1 deal but sparked criticism that it was too aggressive with pricing and risked shutting the bank capital pipeline from the country, writes Narae Kim.

African Export-Import Bank has nearly reached its target for a loan, having attracted $700m of commitments, and officials involved say there is more to come.

Ghana National Cocoa Board (Cocobod) has completed the early bird senior phase of its annual loan syndication with a strong oversubscription, said bankers involved in the deal.

The Finanzagentur is set to make its first appearance in syndicated format since 2009 with a 30 year inflation linker that will extend the sovereign’s inflation linked curve.

Woori Bank is well underway with what will be the first Basel III additional tier one (AT1) from a non-Chinese bank in Asia ex-Japan. Bankers on the deal officially launched bookbuilding with price guidance on June 3, having collected feedback from investors the previous day on fair value and the best comps.

German electricity grid operator Eurogrid hit the euro market with a 10 year bond on Tuesday, opting to brave a tricky market in order to avoid further obstacles to issuance later this week.

Korea's Woori Bank has announced what will be the first Basel III additional tier one (AT1) from a non-Chinese bank in Asia ex-Japan. As a first of its kind bankers are given investors time to consider the structure and give feedback on pricing ahead of opening books.

Credit trading desks at banks have been swept by a tornado of job moves, as financial institutions specialists leave or jump to rival firms in a scramble to survive in a shrinking market.

La Poste, France’s state postal service, returned to the bond market on Tuesday with its first benchmark issue since 2012. The bond was priced tightly to its curve, but the book size was not disclosed.

UK defence contractor Cobham has become the latest of 13 international companies to issue a Schuldschein this year, providing welcome activity for a market that has slowed after a record first quarter.

The Republic of Korea has mandated two banks for a credit update with bond investors in London next week.

Commerzbank said on Wednesday that it had exercised the over-allotment option for Sixt Leasing’s Frankfurt listing, increasing the deal by €24.26m.