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  • 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.
  • Lansforsakringar Bank (LF Bank) enjoyed the sole attention of the market on Thursday as it placed the day's only senior bond in euros. With market conditions constructive, bankers expect more esoteric names could follow.
  • The European Central Bank's covered bond purchases remained weak in March and, with issuance expected to stay anaemic for the foreseeable future, it will struggle to prevent its portfolio from shrinking. While this is positive for spreads, returns this year have been abysmal and, in the absence of supply, investors are being squeezed out.
  • Chinese electric vehicle manufacturer Li Auto has raised $750m from its debut convertible bond, pricing the deal at the investor-friendly end of the marketed range.
  • SRI
    NN IP has launched the world’s first green bond fund dedicated to sovereign, supranational and agency bonds. GlobalCapital spoke to Douglas Farquhar, client portfolio manager at NN IP, about the SSA green bond market.
  • 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.
  • We Doctor Holdings, which operates Chinese healthcare platform WeDoctor, is seeking approval for a Hong Kong IPO.
  • Hemnet, the Swedish online property marketplace, has launched the marketing process for an IPO on the Nasdaq Stockholm exchange.
  • 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.
  • Development banks across the world — and especially those in Africa — have proven to be indispensable sources of relief during the last year. Though Africa has a wealth of challenges to economic recovery, the West African Development Bank, also known as Banque Ouest Africaine de Développement (BOAD), has high ambitions for the year ahead. The bank’s president Serge Ekué spoke to GlobalCapital about these ambitions, including an imminent capital raise.
  • KfW hit the market with an impressive green bond this week, raising a record €4bn of eight year paper and paying only 1bp of new issue concession to do so.
  • 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.