Banks

Banks are circling the additional tier one market, looking to replicate very well received transactions from Crédit Agricole and ING Groep this week.

Société Générale’s €1bn eight year and Credi-Mutuel CIC’s €1bn five year are leading the way with the highest mark of all French covered bonds issued this year on GC Bond Marker. But with the survey still open on Caffil’s recent €1bn 10 year social debut, these two issuers could well be knocked off the top spot.

Bahrain Mumtalakat Holding Company, the country's sovereign wealth fund, sold its $600m five year sukuk on Wednesday at a level that was so tight it even took the deal’s lead managers by surprise.

CStone Pharmaceuticals will list Hong Kong’s first biotech IPO of 2019 next week, getting things moving with a deal that bankers said is a sign of a maturing market after 2018's rush of deals.

South Korean discount store chain Homeplus Stores is set to cash in on its properties as it readies a mammoth IPO for Homeplus Real Estate Investment Trust. The listing is being flagged by bankers on and off the deal as the spark needed to bring life to a languishing Korean Reit market. Jonathan Breen reports.

China Construction Bank (CCB) and China Citic Bank International this week priced Basel III-compliant tier two deals, raising $2.35bn between them. The deals represent only the latest supply from Asia’s bank capital market, which is gearing up for a busy year. Addison Gong reports.

Morgan Stanley names ECM head — Fasso joins PineBridge — Citi China makes promotions

Shriram Transport Finance Co raised $400m from first dollar bond on Wednesday, becoming the first Indian high yield borrower to tap the offshore market in just over a year.

Danske Bank has picked Bo Søndergaard to be its first head of SRI bond marketing in the DCM syndicate team.

Singapore Power, a government owned electricity and gas distributor, grabbed investor attention on Wednesday and raised $600m from a rare trip to the international bond market.

Chinese high yield borrowers have come to the market in droves this week. That continued on Wednesday, when three deals raised a total of $1.275bn.

Malaysia-based firm Top Glove Labuan tapped the equity-linked market for the first time on Wednesday, raising $200m after printing a five year non-call three exchangeable bond.