Bank of America

Midstream energy company Oneok made a convincing return to the dollar market on Thursday with its first investment grade deal in two years.

The Warsaw IPO of Play Communications, the Polish mobile telephone network operator, has been priced at Z36, above the bottom of the initial Z34 to Z44 range, and broadly in line with the valuation multiple of its listed peer, Polsat.

The Japan Bank for International Cooperation (JBIC) hit the whole dollar curve on Thursday, launching a quadruple tranche dollar benchmark and managing to pull in spreads by 4bp-6bp on all four tranches.

Digital Realty used its Digital Stout Holding entity to sell a dual tranche sterling bond offering on Tuesday. The data solutions provider was overwhelmed with interest for its £600m deal, and will use the proceeds to rid DuPont Fabros Technology (DFT) of existing debt.

Thailand’s PTT Exploration and Production (PTTEP) raised $500m from its new perpetual non-call five bond on Wednesday, while simultaneously conducting a buyback of its existing notes.

Powerlong Real Estate Holdings managed to price a $200m bond on Wednesday, the same day that China National Chemical Corp and Japan’s Softbank Group snapped up a combined $7.5bn from the debt market.

Korea Gas Corp opened books for a dual tranche dollar deal on Thursday, more than a month after wrapping up a roadshow in Europe. Industrial Bank of Korea and Doosan Infracore, meanwhile, have mandated banks for new dollar transactions.

The European Bank for Reconstruction and Development (EBRD) printed a $500m floating rate note on Wednesday, coming just ahead of the Japan Bank for International Cooperation (JBIC), which is preparing several tranches of dollar paper for Wednesday.

Digital Realty used its Digital Stout Holding entity to sell a dual tranche sterling bond offering on Tuesday. The £600m raised from the two tranches will be used to rid DuPont Fabros Technology (DFT) of existing debt.

Thailand’s PTT Exploration and Production (PTTEP) began marketing a perpetual non call five on Wednesday as part of a liability management exercise.

New issue momentum in Asia’s debt market continues to be strong with Powerlong Real Estate Holdings and China National Chemical Corp (ChemChina) collecting bids on Wednesday, as Sinochem International Corp prepares to hit the road.

Public sector borrowers are staying conservative in the dollar market this week, opting for short dated trades or floating rate notes. The trend is likely down to issuers having one eye on expected Federal Reserve rate increases in the US, said bankers.