Banks

Haitong International Securities Group raised $400m from the bond market this week, selling a deal inside fair value after a larger-than-expected price tightening.

Volkswagen Finance (China) will come back to the Chinese auto loan ABS market after a two-year break on November 13. The Beijing-based originator is offering a Rmb5.97bn ($851m) dual-tranche note equipped with two international ratings.

Boston Scientific Corp, the US medical devices maker, obtained plenty of demand for its €900m bond as it made its debut in the Reverse Yankee market on Wednesday, while the euro corporate bond pipeline continues to fill for a flurry of issuance in November.

The European Bank for Reconstruction and Development came to market on Wednesday with its fourth Sonia-based floater.

The Swedish Export Credit Corp printed a $1.25bn three year global benchmark bond on Wednesday, tightening the spread to land flat to its curve and aided by a favourable move in swap spreads.

The UK’s SP Transmission, the transmission arm of Scottish Power, issued its debut bond on Wednesday almost five times oversubscribed, as sterling demand remained solid on the day UK political parties opened their general election campaigns.

Gewobag, the A2/A+ rated German housing company, has launched the first Schuldschein with Euribor floor set below zero, just months after placing €700m of Schuldscheine into the market.

Santander Consumer Finance (SCF) had plenty of momentum in its order book as it looked to extend its maturity curve in the preferred senior bond market on Wednesday.

The first tier two from Spain’s Unicaja Banco was more than three times subscribed this week after it entered a strong new issue market. It appeared alongside ING, which paid a slim 5bp premium to print a deal in the same asset class.

Qatar International Islamic Bank mandated banks on Wednesday for an AT1 sukuk, one day after Masraf al Rayan (MAR), another Qatari Islamic bank, had achieved tight pricing on its senior unsecured offering in the format. But another Middle Eastern deal, in Reg S/144A format, was pulled this week.

Dufry, the world’s largest travel retailer, issued €750m of senior unsecured notes on Wednesday to buy back its outstanding €700m of 4.5% notes, due in 2023, and pay back a small slice of its revolver.

Latin American bond market participants away from Costa Rica’s proposed $1.5bn cross-border issue said they thought the deal would find strong demand as the Central American nation announced a roadshow amid friendly market conditions on Tuesday.