Banks

Three Chinese property companies announced dollar bond transactions on Monday, continuing the run of issuance seen from the high yield market since the beginning of the year.

Indonesia's Tower Bersama Infrastructure took an aggressive pricing approach to a tap of its dollar bond on Monday. But when investor response fell short of expectations, the issuer was forced to pull its fundraising.

SAIC-GMAC Automotive Finance Co is already eyeing its second auto loan securitization deal of the year, just a couple of weeks after kickstarting China’s auto ABS market for 2021.

Credit Suisse has tapped a rival bank to fill a spot on its emerging markets syndicate desk in New York, GlobalCapital understands.

Europe’s corporate bond investors had the chance to pick up some paper from the hairier end of their credit spectrum as this week began, with Portuguese power company Energias de Portugal and Swedish housing firm Heimstaden Bostad out with hybrid capital issues.

Arab Petroleum Investment Corp — the multilateral development bank — held investor calls on Monday for a bond offering, nine months after its previous dollar outing. Although emerging market SSA issuance has been dominated by low rated, high yielding credits since the start of the year, investment grade issuers will begin to trickle in, bankers say.

The covered bond market bounced back from last week’s temporary supply indigestion on Monday, following strong deal outcomes for DZ Hyp and Société Générale, which issued the tightest French transaction of the year.

Svenska Handelsbanken has become the latest European bank to put out a call notice for one of its additional tier ones. Market participants are expecting a clean sweep of redemptions for the asset class this year.

Deutsche Pfandbriefbank launched its first green bond this week, attracting twice as much demand as it needed for its €500m senior print.

The European Union hit screens on Monday morning to announce its first bond of 2021 under the Support to Mitigate Unemployment Risks in an Emergency (SURE) funding programme.

The Republic of Armenia has mandated banks to arrange a dollar bond just months after its brief conflict with Azerbaijan over the disputed Nagorno-Karabakh territory. The sovereign is the latest high yielding emerging market government to tap debt markets.

The IPO of InPost, the Polish provider of postal lockers, is due to be priced at €16, the top of the initial range, valuing the company at €8bn when it begins trading on the Amsterdam Stock Exchange later this week.