Barclays

Barclays is preparing to let go investment banking staff in Asia as the British lender continues to wind down its presence in non-core markets.

Hong Kong real estate giant Swire Properties and the Korea Development Bank have launched the first investment grade bonds from Asia for 2016, opening books for dollar-denominated transactions on January 6.

Last year’s difficult dollar conditions looked firmly in the past on Tuesday as a pair of issuers tapped different parts of the curve for big deals — and other issuers readied themselves for trades.

Bank Nederlandse Gemeenten started January with a bang, roaring out of the blocks with an oversubscribed book on the year’s first euro deal, and printing its largest ever 10 year benchmark in the currency.

The European Investment Bank blew the doors off the sterling market with a record breaking deal on Tuesday, and two other issuers quickly followed.

Barclays has offered to buy back up to £7.5bn of senior unsecured notes, and could shortly be in the market with fresh holdco debt as it looks to satisfy regulatory capital requirements.

Credit Suisse and UBS dominated Dealogic’s European FIG bookrunner rankings for 2015, helped by their issuer parents cranking up their issuance of holdco and capital instruments.

Korea Midland Power Co (Komipo) has mandated three banks for a dollar offering ahead of the redemption of an outstanding note due in March.

Bank Nederlandse Gemeenten is the solitary public sector borrower in the euro market so far this year, with a public holiday across much of Europe likely to limit issuance in the currency this week.

A pair of SSA heavyweights are limbering up for the first public sector dollar benchmarks since the US Federal Reserve raised rates late in 2015 — and plenty more could follow ahead of the next Fed conflab.

The GlobalCapital editorial team has picked what it believes to be the standout bond issues of 2015 across the emerging market, public sector, financial institution and corporate bond markets. Below are the EM Deals of the Year 2015. We selected the trades that we think will be remembered for their success in challenging conditions, for making the best use of the demand available to them, or for having made a longer lasting impact, such as the re-opening of a market. The winners are presented here.

Asia’s debt capital market is set for a busy start to the year with both repeat and debut issuers looking to sell dollar offerings as early as this week.