Bank of America

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.

Five new high yield offerings, including the biggest floating rate note seen in Europe so far this year, entered the market this week. The FRN is a sign that frontiers are becoming blurred between different leveraged finance markets for debt buyers, said bankers.

South Korea’s Nonghyup Bank reeled in investors for its $500m five year bond at the start of the week, pricing the notes flat to its existing curve.

South American development bank Corporación Andina de Fomento (CAF) is set to price a dollar-denominated benchmark bond on Tuesday less than two weeks after losing its only negative outlook.

The International Finance Corporation (IFC) announced on Monday that it will launch a five year floater on Tuesday, becoming the latest borrower to tap into the demand from investors looking for protection from rising rates. It will share the market with three year benchmarks from Municipality Finance and Corporacíon Andina de Fomento (CAF).

With a dearth of emerging market bond supply defining the start of the week, it was left to high yield issuers to provide something for EM investors to get their teeth into as United Group, a cable operator in Eastern Europe, became one of five HY mandate announcements announcements on Monday.