Banks

The Republic of Turkey has tightened price guidance for its three year sukuk to 5.9% area, with books for the deal in excess of $3.5bn.

The Republic of Uzbekistan has released initial price guidance for its dual tranche five and 10 year dollar bonds and a rush of investors showed how desperate they are for a piece of it.

Two numbers stood out in Natixis’ fourth quarter results: the €259m loss from Asian equity derivatives, and the €249m of performance fees generated by its asset and wealth management business.

Banco Santander broke new ground in the additional tier one market on Tuesday, when it said that it would not be calling its €1.5bn 6.25% bonds. Many investors were stunned and even angry about the bank’s actions, which could have major implications for the way in which call decisions are viewed across the sector.

One of the most covered aspects of the bond market by more mainstream media in recent months has been the value of triple-B rated corporate debt due to mature in coming years and what problems that might cause in the event of an economic downturn. However, this has prompted investors to start to quell any fears of these risks.

Uzbekistan's bond market debut, which is expected to be priced as early as Wednesday, has captured the attention of emerging market investors.

Sunac China Holdings priced a large three year callable bond, taking advantage of the abundant liquidity in the market following Chinese New Year. But investors appeared to hold back when it came to less familiar names.

Korea Development Bank has raised $1bn from a dual-tranche bond that came inside its secondary curve, as investors flocked to high quality, investment grade rated credits.

The Republic of Indonesia returned to the bond market in style this week, using a tried-and-tested formula by adding a green tranche to a $2bn sukuk.

Chinese chemicals company Risun Group is kicking off pre-IPO investor education next week. The company wants to raise up to $200m before its listing application expires in May, according to a source.

A strong start to the year for public sector dollar issuance is keeping up the pace so far this week, with last week’s slowdown during the Chinese New Year holidays only appearing to make investors hungrier. Both of Tuesday’s dollar deals were well oversubscribed — one spectacularly so — and there is a full card of issuers waiting to come on Wednesday.

The European Financial Stability Facility completed its funding for the first quarter with a dual tranche offering on Tuesday, which was priced with minimal concession, according to the leads.