JP Morgan

The Islamic Republic of Pakistan marketed its first dollar bond in more than three years this week, following the return of the country’s IMF programme. The triple tranche transaction raised the south Asian country $2.5bn — and proved its resilience in the face of the pandemic. Morgan Davis reports.

Property company China Jinmao Holdings Group sold its second dollar bond of 2021 on Tuesday, raising $600m from a five year note.

Dexia Credit Local was able to push the pricing of its new dollar benchmark on Tuesday thanks to pent-up demand for high quality paper in the currency.

An environmental activist institute has argued that the bookrunners of a Korea National Oil Corp $700m bond priced on Tuesday are being inconsistent with their own climate policies, and might even be taking legal risks, because of the issuer's exposure to tar sands oil production in Canada.

Korea National Oil Corp’s (KNOC) quasi-sovereign credentials helped drive demand for its $700m bond on Monday, its first international debt transaction of the year.

Deutsche Wohnen continued the seemingly insatiable drive for debt from European investment grade real estate companies on Monday, while Canary Wharf lined up its debut green deal to come as soon as Tuesday.

The Restaurant Group, the owner of multiple UK dining brands including Wagamama and Frankie & Benny’s, has completed a £175m capital raising, with a high take up from shareholders.

Banque Fédérative du Crédit Mutuel (BFCM) kicked off FIG issuance in the last week before Easter, dropping into the euro market to print a new five year preferred deal.

BNP Paribas has leapfrogged JP Morgan to become the top bookrunner in EMEA loans this quarter, with the French bank almost doubling its market share. But this increase has yet to play out in the bank’s bond bookrunning activities in the region.

JP Morgan has appointed two new co-heads of EMEA equity syndicate to replace Lorenzo Soler, who moved back to the US to run the bank’s Americas syndicate desk. One is an internal hire and the other joins from Deutsche Bank.

Hong Kong-listed Car Inc raised $250m from a bond last Friday, riding on the positive sentiment of an ongoing take-private deal and better access to funding.

Dutch bank ING made a triumphant return to the dollar market this week, launching its first SEC-registered trade in almost two years as it added to Yankee bank supply.