Issuer further advances year's funding, now funded $10bn of $12bn current target

◆ A longer maturity to stand apart ◆ Treasury diversificaiton bid ◆ Structured note investors

Zero NIP as country keeps focus on price

◆ Hong Kong rail operator takes size with three tranche trade ◆ Tight spreads achieved across all legs ◆ Deal offers rare exposure to Hong Kong-based corporates in euros

◆ Wider optically, tighter underneath ◆ High quality from outset ◆ Pragmaticism on last basis point

◆ Busy couple of weeks the Spanish public sector ◆ Madrid, Andalucia also printed, Basque next ◆ 1bp of NIP paid on slightly softer day

Investors in Latin America are growing increasingly concerned that social unrest in Colombia, where tax reform plans are in tatters and more than 40 people have been killed, is a sign of things to come, with sovereigns facing severe pressure as they attempt to improve credit profiles that have been battered by the coronavirus pandemic. Yet sovereign bond markets are seeing only modest, short-lived sell-offs, given the enormous liquidity still in bond markets.

In this round-up, the China Securities Regulatory Commission plans to ask companies to include separate chapters for corporate governance as well as environmental and social responsibilities in their annual financial reports, and three Chinese telecommunications companies will be dropped from the New York Stock Exchange after an unsuccessful appeal.

UBS has revamped its management of sustainability and appointed Michael Baldinger as chief sustainability officer. Last month it named Suni Harford, president of UBS Asset Management, as group executive board sponsor for sustainability and impact.

Liontrust Asset Management is launching a new listed ESG fund on the London Stock Exchange.

Banks backing the successful Allied Universal bid for UK security company G4S are set to split around $100m in financing fees for backing the deal, with Credit Suisse and Morgan Stanley in line for the lion’s share of the profits, as the $6.3bn eight tranche syndication is priced and the firm is delisted.

A small band of committed investors in Tesco has achieved spectacular success with a shareholder motion on healthy food. This should embolden investors to hold issuers to account on a wider range of social matters — and also contains a deeper lesson about how markets bring about change.

Increased investor interest in utilities hybrids could bring down subordination premium, says SSE treasurer

Divisions deepen over multilateral development banks’ climate commitments

◆ UK utility prints €1.3bn dual trancher ◆ Issuer skips guidance as it masses orders north of €10bn ◆ Longer call leg draws stronger demand

Inclusion of a variable rate instrument was not acceptable to official creditors

Thibaut Makarovsky, head of funding and market operations at AFD, discusses his recent dollar trade and funding plans

It is not clear what needs to be restructured, and the coming debt analysis may lack credibility

Sovereign bond print went ahead despite missile and drone attacks just before pricing

Choosing the right tools mitigates the risk of spiraling bills

It's not the juniors in capital markets who need protecting from obsolescence. They stand to benefit most from the deployment of AI

US drug company Eli Lilly jolted the dollar market awake on Wednesday with an eight-part jumbo trade to fund two recent acquisitions

The US dollar market buoyant this week despite escalating hostilities in the Middle East

Redwood will be a repeat issuer