ING

ING has hired former European Credit Management portfolio manager Chris Telfer for high yield credit trading, focused on autos and paper and packaging names.

Europe’s investment grade companies added to the workload of a rejuvenated but busy green bond market on Wednesday with deals from Alliander and Prologis. But debt bankers believe that, after weeks of emergency funding in response to the coronavirus pandemic, the coming weeks should bring the return of more run-of-the-mill trades.

The Republic of Hungary won a €7.25bn order book on its debut in green bond markets on Tuesday, printing a €1.5bn trade.

OP Corporate Bank and Standard Chartered were looking to add to a flurry of recent tier two issuance on Tuesday. The asset class has found itself in a sweet spot in terms of its regulatory and financial value during the coronavirus pandemic.

The Republic of Hungary made a swift return to bond markets on Tuesday, selling its debut green bond deal just over a month after a €2bn dual tranche trade.

Uralkali, the Russian potash fertiliser producer, signed a $665m pre-export facility (PXF) with a consortium of international banks, as lenders say that Russian borrowers seeking funding are finding pricing remains the main point of contention with lenders.

Deal arrangers said on Monday that banks would not be dissuaded from bringing new bond deals to the market, though spread levels have started showing their first signs of weakness following an extraordinarily strong month in May.

Features in UK covered bond programmes offer limited protection and could lead to a delay in the classification of defaulted loans, Moody’s said this week. Meanwhile in Europe, regulators have muddied the waters on payment moratoria legislation.

New chair at MUFG's EMEA arm — Jim Cowles turns up at ambitious fintech firm — Citi picks Sansen for trading team

Corporate bond investors piled into the three environmental, social and governance trades on screens this week, as bankers said the focus in the high grade market is shifting from crisis mode back to socially responsible debt.

BASF and Pearson brought green and social bonds on Thursday, as sustainability-linked issuance continues to pull Europe’s high grade corporate market out of the darkest days of the coronavirus pandemic’s panic funding phase.

Korea Development Bank raised $1bn from a new bond on Wednesday, marking its third dollar transaction of the year.