Asia Pacific
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◆ 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
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Kazakh issuers have been busy in international bond markets this year
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◆ Simultaneous execution with Alphabet's record deal bodes well for others ◆ More FIG names likely to print in near future ◆ Other European banks diversify funding in Singaporean and Australian dollars
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◆ Largest Australian tier two tranche since 2020 ◆ Pays slightly higher NIP than earlier deals ◆ 'Novel' structure attracts high quality order book
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Uzbek bank's deal is the first deal from the country in 2026
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The lender started investor meetings late in April
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The trade is the first from a 'mid-tier' Uzbek lender
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There is still a pipeline of issuance from the country
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Investors are getting plenty of state owned issuance from Kazakhstan this month
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More deals are expected later in the week
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Issuers are coming at different tenors in dollars, and one with a rare global bond
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Underwater trading was due to softer market conditions on Thursday, said a syndicate banker