Deutsche Bank

The 15 year tenor is the flavour of the week in the SSA market. Three issuers have mandated for deals at the tenor so far, following on from NRW.Bank’s successful trip to the maturity on Tuesday.

Neal Ganatra has been promoted to be Deutsche Bank's new head of SSA syndicate.

NRW.Bank signalled to the market that there is demand at 15 years with its inaugural social bond on Tuesday. Following the deal two other European issuers, Bank Nederlandse Gemeenten and Portugal, mandated for deals of their own in the tenor.

Assicurazioni Generali and Uniqa Insurance are each looking at selling tier two capital from their green bond frameworks, using a quieter period in the new issue markets to explore more complicated and multi-faceted transactions.

Chinese property companies Times China Holdings and Golden Wheel Tiandi Holdings Co took a combined $470m from the bond market on Monday.

China Bohai Bank has jumped into Hong Kong’s bustling IPO market, opening books for a HK$14.3bn ($1.85bn) listing.

DirectBooks, which plans to bring a new issuance platform for bond markets, has not ruled out the possibility of a partnership with other providers.

Hannover Re gave away a bit of premium for a new tier two this week, after it touched on the lower bound of the spreads available in the market for insurance capital.

Property managers Greentown Management Holdings and Zhenro Services Group launched bookbuilding on Monday for Hong Kong Stock Exchange IPOs.

With SSA issuers' programmes rising to accommodate their responses to the coronavirus pandemic, the volume of deals transacted in niche currencies is closing in on a record high. With offshore interest in local currency deals healthy, however, many major banks are missing out on a busy and increasingly active market.

Anheuser-Busch InBev, the world’s largest brewer, received far below the €5.3bn-equivalent it had offered to buy back through a tender offer, as analysts still expect its leverage to remain at nosebleed levels for a company with a BBB+ rating.

Agence Française de Développement hit the market twice this week, taking advantage of the absence of competing supply to pick up cash in euros and dollars. Thibaut Makarovsky, head of funding and market operations at the agency, discussed the deals with GlobalCapital.