Banks

Ping An Real Estate, a unit of Ping An Group, is returning to the loan market for an up to $300m borrowing after a two-year absence.

Far East Horizon has opened into syndication a $580m-equivalent three year term loan via six mandated lead arrangers and bookrunners.

South Korea’s Suhyup Bank returned to the international bond market on Tuesday after a near five year hiatus to raise $300m.

AC Energy raised $225m from the first public green dollar bond from the Philippines, a deal in line with its renewable energy-related ambitions.

Investors swarmed to Johnson Electric Holdings’ maiden dollar bond transaction, allowing the borrower to raise $300m from a nearly six times oversubscribed deal at its peak.

Haitong UniTrust International Leasing, owned by Haitong International Securities, is seeking a $100m loan as its parent company also woos lenders to a separate, larger facility.

Three sterling deals hit the SSA market on Tuesday, bringing this year’s total volume to more than double last year’s and indicating that issuers and investors are yet to be put off by the confusion surrounding Brexit.

Two SSA borrowers will go head to head in the dollar market on Wednesday, bringing five year benchmarks with only 1bp difference in initial price thoughts.

Spain came to market on Tuesday, printing its traditional January 10 year euro benchmark and receiving an overwhelming level of demand.

Kier Group shares perked up by as much as 1.6% on Tuesday after the UK construction company said it had parted ways with its CEO following the completion of its troubled £264m rights issue.

Fearful of missing out and, in the absence of competing credit supply, investors piled into six covered bonds on Tuesday with a combined value of more than €6bn.Royal Bank of Canada’s deal epitomised the state of investor frenzy as it was able to issue the largest deal of the year with a negative new issue premium.

New issuance returned to the corporate bond market on Tuesday as Auchan and Vonovia attracted €8bn of demand for their new deals after two days without any trades. The new issuance spreads they paid differed markedly however.