Banks

German pharmaceutical firm Vetter launched a Schuldschein on Tuesday, which is the first such offering in the market in 2020.

Esaf Small Finance Bank has set the ball rolling for a Rp9.76bn ($135.6m) IPO, which will include fresh equity and a sale of existing stock.

Seven Chinese real estate issuers followed five of their peers to the offshore debt market on Tuesday, marking the busiest start to the year for the Asian bond market.

Santander’s Chilean arm on Tuesday joined the early wave of dollar issuers from the country, pricing a $750m five senior unsecured bond 2bp inside where state-owned Banco del Estado de Chile sold an identical trade a day earlier.

Chinese e-commerce giant JD.com has returned to the dollar bond market for the first time since 2016 for $1bn, pushing out its maturity profile and pricing the deal at levels comparable to some of its much higher rated peers. Addison Gong reports.

Toyota Motor Finance (China), a Beijing-based wholly-owned subsidiary of Toyota Motor Corp, returned to the Mainland's auto loan ABS market on Tuesday after a two year break. The Rmb4.5bn ($648m) deal was tightly priced.

India’s Syndicate Bank has closed its $100m borrowing, with the lead bank selling the entire amount to three participants.

The Republic of Indonesia made an opportunistic outing this week, tapping both the dollar and the euro bond markets for about $3bn. The sovereign started the year with a different approach to its annual funding, in a bid to take advantage of strong liquidity in both the currencies, writes Morgan Davis.

Luckin Coffee, China’s answer to Starbucks, has launched a combined follow-on offering and convertible bond issue to raise up to $821m.

German automaker Daimler began its 2020 renminbi debt market activity on Tuesday with a Rmb3bn ($432m) Panda bond sold through a new issuance vehicle, Netherlands-based subsidiary Daimler International Finance.

The Sonia-linked covered bond market is showing signs that it is 'maturing', with Commonwealth Bank of Australia launching a new deal in the format on Tuesday and Coventry Building Society looking to follow in the footsteps of two of its compatriots early in 2020.

US REIT Digital Realty has mandated banks for a multi-tranche bond issue, as Reverse Yankee issuers get their feet under the table of the euro bond market early in 2020.