Mizuho

China Construction Bank Corp has raised Rmb1bn from an offshore renminbi (CNH) bond that was sold through its Astana arm. The branch only started operating six months ago, after it was set up to strengthen ties between China and Kazakhstan, a country part of the Belt and Road Initiative.

JP Morgan appoints syndicate head for private markets — RBC loses M&A banker — Mizuho names sustainability head

China Cinda (HK) Holdings Co priced a $2bn four-tranche transaction on Wednesday, paying a premium to reach its size target as the fast-spreading novel coronavirus, or Covid-19, continued to rattle global markets.

Mark Wheatcroft has been appointed Mizuho's head of sustainability for Europe, the Middle East and Africa, a newly created post. His previous role as head of primary debt markets has been taken over by Guy Reid.

India’s Tata Steel and Birla Carbon have decided not to syndicate their chunky loans, amid reluctance from the bookrunners to sell down their positions in a slowing market for deals.

Transition bonds, one of the hottest talking points of the past year in the green bond market, made a decisive step forward this week when Cadent Gas, the UK’s largest gas distributor, issued a €500m deal that attracted large orders from environmentally concerned investors, even though some green bond funds shunned it. Jon Hay reports.

Cadent Gas launched what by some counts is only the second transition bond on Wednesday and achieved a stellar reception in the market. The €500m no-grow bond was priced without a new issue concession and tightened sharply on the break, according to a banker on the deal.

TCC Group, controlled by Thai billionaire Charoen Sirivadhanabhakdi, has agreed a $10bn two year loan to support its bid for Tesco’s Asian assets.

SAIC-GMAC will sell a Rmb3bn ($430m) auto loan deal next week, marking its first securitization this year.

US bond market tourists poured into high grade euros this week, where tiny concessions and a cheap overall cost of funding saw a string of successful trades.

Cadent Gas, the UK gas distribution network spun off by National Grid in 2017, will roadshow from Tuesday next week for a €500m transition bond. The deal is likely to delight green bond specialists who have championed the idea of transition bonds as a way to finance companies that are not green, but are moving towards lower carbon business models.

China Huarong Asset Management Co courted investors with a four-tranche deal this week, mixing fixed and floating rate tranches.