Morgan Stanley

Bank Nederlandse Gemeenten placed its inaugural social bond on Wednesday sharing the socially responsible investment (SRI) sector with a tap from the International Finance Corporation. The Dutch agency now wants more of the same.

A pair of Chinese firms are preparing potential multi-billion-dollar deals. Postal Savings Bank of China Co is seeking approval for a Hong Kong IPO that could raise up to $8bn, according to sources familiar with the matter, while China Resources Beer (Holdings) Co is aiming to net HK$9.5bn ($1.2bn) from a rights issue in the next few weeks.

The Asian debt market has followed up strongly on Bank of China’s successful $3bn green bond, with five deals launched on Thursday and more expected.

Bank Nederlandse Gemeenten sold its first social bond on Wednesday, using the more captive investor base for socially responsible investments (SRI) than the usual SSA buyer crowd to achieve a tighter price.

India’s PNB Housing Finance has filed a draft prospectus for a listing that could raise as much as Rp25bn ($369.7m), putting it on track to be one of the country’s largest IPOs this year.

Postal Savings Bank of China Co is seeking approval from the Hong Kong Stock Exchange to list, in a deal that could raise up to $8bn, according to sources familiar with the matter.

Bank Nederlandse Gemeenten held an investor call on Monday to gauge interest in a possible debut social bond.

Investors have been forced to think twice about buying euro-denominated UK bank paper following the country’s vote to leave the European Union, though the borrowers remain strong and spreads on their debt securities are at attractive levels.

Two of the five US subsidiaries of European banks under the Federal Reserve’s supervision failed the regulator’s stress test this week, despite having some of the highest common equity tier one ratios under the Fed’s worst case scenario. The banks, mostly with US headquarters, that passed largely plan to increase dividends and buybacks

Investors have been forced to think twice about buying UK bank paper following the country’s vote to leave the European Union, though lenders remain strong and spreads on their debt securities appear at attractive levels.

The loans team at Standard Chartered in Hong Kong has undergone a number of changes, with new bankers coming into the fold to replace those who have left recently.

Brazilian meatpacker Marfrig clinched a drive-by bond reopening on Wednesday to notch up another success in its proactive liability management programme, raising $250m of seven year bonds that it will use to buy back existing debt.