ING

Kernel, a Ukrainian agriculture company, has returned to the international bond market for the first time in two years, defying the political turmoil developing in Ukraine.

Eddie Wong, a director of loan syndications, has left ING after over a year.

Siberian Anthracite, the largest producer of anthracite coal in Russia, has closed a dual currency loan refinancing, adding a large euro chunk to its existing dollar debt. The deal points to a growing inclination towards euro funding among Russian borrowers in a bid to avoid operational and sanction-related obstacles, say bankers.

Commodities company Mercuria has returned for its annual outing to the syndicated loan market, and is seeking $1bn from a four-tranche borrowing.

Rusal, the aluminium company, is set to sign Russia's first internationally syndicated sustainability-linked loan, for $750m. Some bankers say Russian borrowers are increasingly interested in financings linked to environmental, social and governance factors, as they hope to attract lenders put off by sanctions that have partly isolated Russia from capital markets since 2014.

Chinese companies came to the international bond market in force on Tuesday, just days ahead of a week-long holiday in the Mainland to celebrate National Day.

Budweiser Brewing Company Apac has raised HK$39.2bn ($5bn) after pricing its IPO at the bottom of guidance, and partially using an increase option. It was the company’s second attempt at listing in Hong Kong.

Small cracks started to appear in the euro corporate bond market on Thursday, after a busy month, as companies launched a spate of deals. An already bulging pipeline means there will be little time for the market to catch its breath.

Former Deutsche Bank DCM head Miles Millard has joined ING as head of global capital markets Leo-Hendrik Greve left the job in September last year, and has now landed at boutique Bowline Capital Partners.

ING, which served as agent on a Schuldschein for the first time only five years ago, has carved out an impressive niche in the market, arranging nearly every green issue.

Budweiser Brewing Company Apac has revived its Hong Kong IPO two months after a headline-grabbing flop. But a smaller target size, a stamp of approval from a high-profile cornerstone investor and the off-loading of an unattractive chunk of its business all mean that the firm has a better chance of success this time around. Jonathan Breen reports.

Besides the rare offering of a Chinese issuer on Wednesday, when Jin Jiang International issued a €500m bond, euro corporate bond investors had to make do with two other deals, from Telenor and Mondelez.