Banks

UniCredit’s German subsidiary, HVB, enjoyed a stunning investor reception for its negative yielding eight year Pfandbrief that was issued on Wednesday, thanks to the lack of supply this year, the small but rare premium on offer and the superb market conditions.

Barclays returned to the Kangaroo bond market this week after being absent for two years to raise A$600m across three tranches of holding company debt. The market was split over which tranche offered the most value in pricing.

Suelzle Holding, a German steel maker, has signed a €140m revolving credit facility, as lenders say there are a handful of similar deals in the works for borrowers in the German speaking region.

Permanent TSB added to a recent run of Irish bank supply on Wednesday, tapping into strong investor demand with a new tier two in the euro market.

SAIC-GMAC Automotive Finance Co priced a Rmb10bn ($1.56bn) auto loan ABS transaction this week, its third outing in China in 2021, switching to a simple structure comprising a senior and a subordinated tranche.

Asia-focused special purpose acquisition company Seven Islands has filed for a $300m Nasdaq listing.

Volkswagen Finance (China) Co came to the onshore auto ABS market for the first time in 2021 with a Rmb5.97bn ($929m) transaction this week, slashing the revolving period to three months to achieve a competitive pricing.

The rapid pace of new dollar bond issuance from Chinese property companies continued from Monday into Tuesday as four more borrowers joined the fray.

One of China’s big four banks, Agricultural Bank of China, and securities house Haitong International Securities Group joined the flurry of Chinese bond deals in the offshore market this week.

Philippine company Vista Land & Lifescapes bagged $170m from a tap of its 2027 notes this week.

SF Real Estate Investment Trust has raised HK$2.59bn ($333.4m) through a rare trust IPO in Hong Kong.

Chinese conglomerate Fosun International has sold its second dollar bond of 2021, raising $500m once again.