Deutsche Bank

Athene Global Funding encountered slim demand on its return to the sterling market this week, but UBS had better luck at the short end of the maturity curve.

The New Development Bank sold a Rmb5bn ($767m) Panda bond aligned to the United Nations’ Sustainable Development Goals this week. The deal, expected to help mitigate the impact of Covid-19 on the Chinese economy, was priced flat to China Development Bank’s yield curve, and saw solid demand from international investors. Addison Gong reports.

Unédic, the French unemployment agency, had the euro SSA primary market to itself on Wednesday, allowing it to comfortably print €3bn with its second social bond benchmark of the year.

Europe’s high grade bond market continued to pump out deals on Wednesday, with Vantage Towers raising three tranches of debt after its IPO and Japan’s Nidec selling a green trade.

Athene Global Funding encountered slim demand after circling back to the sterling market on Wednesday, with lead managers citing a ‘challenging environment’ for new issues in Europe.

China SCE Group Holdings managed to raise $300m from a narrow issuance window on Tuesday, just as sentiment started to sour around the country’s high yield property bond market.

Hong Kong-based Jeneration Acquisition Corp, a special purpose acquisition company (Spac), is planning to raise $300m from a Nasdaq IPO.

Greenko Energy Holdings took $940m from an amortising green bond on Monday, adding to the recent spurt in sustainable issuance from India.

Europe’s high grade corporate bond pipeline is bulging this week, as slightly improved market conditions from last week have prompted a diverse set of issuers to lock in funding before the end of the quarter.

Atotech, a UK speciality chemicals technology company, has followed up its IPO last month with a $1.84bn-equivalent loan refinancing, with some of the money earmarked for acquisitions.

Delhi International Airport (Dial) had to pay a hefty premium for its $450m green bond amid investor concerns about market volatility and the state of the travel industry.

India’s Adani Green Energy has raised a $1.35bn green loan to support the construction of projects under its renewable portfolio.