Goldman Sachs

Bank of China sold its first ever bond out of its Djibouti branch on Monday, as Chinese issuers pour into capital markets to make up for time lost to the coronavirus pandemic.

Lagfin, a vehicle that manages the investments of the billionaire Garavoglia family, has issued a €330m bond exchangeable into iconic Italian drinks maker Campari, as part of a move to shift the historic company’s domicile to the Netherlands.

China Aoyuan Group used up the last of its debt issuance quota this week to raise $460m from the bond market.

Bagshaw heads to HSBC, Deutsche replaces him — Citi's Kemp retires — Karolev moves to JP Morgan

Aéroports de Paris, rated A by S&P, cut a lonely figure in Europe’s corporate bond market on Thursday, braving difficult conditions to launch a dual tranche deal more than 100bp inside where it had printed debt at the start of the crisis.

Arab Petroleum Investment Corp (Apicorp) repriced its curve on Wednesday, printing a five year new issue 20bp inside where its outstanding 2023 notes had been trading.

The United Arab Emirates’ state-owned oil company, Abu Dhabi National Oil Company (Adnoc), has raised more than $10bn of investment from a consortium of firms in exchange for a stake in select pipelines. This is the second deal in 12 months in which Adnoc has raised international capital by leasing part of its pipeline network.

The second slice of the ThyssenKrupp Elevator financing hit the market on Wednesday, with €4bn of bonds announced across secured and unsecured tranches in dollars and euros, joining the €3bn of loans earlier this week as part of the package to fund Europe’s largest LBO in a decade.

Shenzhen Hepalink Pharmaceutical Group launched its Hong Kong IPO this week, targeting proceeds of HK$4.53bn ($585m).

Chinese property company Agile Group Holdings’ new $500m bond tumbled in the secondary market on Wednesday after the firm took an aggressive approach to pricing.

Arab Petroleum Investment Corp (Apicorp) was in the market on Tuesday for a five year benchmark bond, having mandated for the deal in April.

CNP Assurances and Helvetia Europe have added to issuance momentum in the insurance sector, giving investors the chance to put money into subordinated capital. The tier two bonds showed that ‘the market is back in shape’, said one deal arranger.