HSBC

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European banks face tough conceptual and regulatory barriers as they enter the market for sustainability-linked debt. But DCM bankers hope that they can find a simpler solution for issuers by focusing on covered bonds, write Tyler Davies and Bill Thornhill.

Athora Netherlands returned to the market after almost three years away on Thursday, raising €300m of tier two paper for the first time since its takeover by its Bermuda-based parent.

HSBC is relocating the regional head of its leveraged and acquisition finance (LAF) business from Hong Kong to London to help implement its UK strategy.

BlackRock has signed a $4.4bn revolving credit agreement linked to gender and racial diversity metrics, becoming one of the most prominent companies globally to use key performance indicators focused on staff equality in its main bank line.

China’s Fortune Auto Finance Co launched its first internationally rated auto loan ABS transaction this week, pricing the senior portion of the Rmb2.5bn ($381.5m) deal at a competitive spread.

Singapore Telecommunications (Singtel) sold a subordinated perpetual bond in the Singapore dollar market this week, marking its return to the currency after more than a decade, as well as its first perp.

Trip.com Group has launched bookbuilding for its HK$10.5bn ($1.35bn) secondary listing in Hong Kong, testing investor appetite amid growing pains for the pandemic-hampered travel industry and as the performance of recent IPO debuts in the city fizzles.

Singapore’s United Overseas Bank sold its debut sustainability bond on Wednesday, raising $1.5bn and notching a number of other firsts with its deal. Morgan Davis reports.

Macquarie Bank ended a seven year absence from the sterling market on Wednesday morning, having postponed its comeback transaction a week earlier.

Romania this week returned to the international debt markets to issue euro-denominated bonds.

Italy and Portugal are the first two eurozone sovereigns out of the blocks for syndications following the Easter break, with the former looking to extend its curve by a further five years.