Asia Pacific

Issuers are coming at different tenors in dollars, and one with a rare global bond

Underwater trading was due to softer market conditions on Thursday, said a syndicate banker

High-yield Japanese corporate bond issuers are set to step up their offshore bond issuance plans in 2026 amid a push to diversify their funding sources. They are likely to see success in dollars and euros provided market conditions hold up, writes Rashmi Kumar

In 2022, the Kazakh railway company aborted plans to issue in dollars

The bank is offering over 100bp of premium to the Kazakh sovereign

◆ Sydney Airport and Indigo print single tranche euro deals ◆ Each deal pulled in peak books of more than €4bn ◆ Tight pricing shows investors still favour defensive credits

The spread to the sovereign was well over 100bp at initial pricing

◆ Issuer finds solid demand at four year tenor ◆ Reoffer tighter than a €750m 4.25 year placed last year ◆ Single digit new issue premium paid

The Kyrgyz sovereign's first bond has tightened nearly 150bp during the Iran war

◆ Japanese telco brings deal after two day roadshow ◆ Shorter tranche leads demand ◆ Italgas pushes through with €750m six year

Foreign bank issuers secure tight pricings

Middle East turmoil is giving Asia-Pacific corporate borrowers another reason to look west