BNP Paribas

Brazil’s Suzano tapped international bond investors for the fourth time since September on Tuesday, capitalising on a dearth of recent supply from Latin America and favourable sentiment towards the pulp and paper sector.

NRW.Bank has joined the list of dollar issuers this week, as the beneficial euro/dollar swap spread for euro funders and tight spread over Treasuries for dollar names proves an attractive lure.

Commerzbank did not appear hindered by uncertainty around its future in its senior preferred issue on Tuesday, while Nordea picked up green demand for its own offering. Meanwhile, BNP Paribas drove in pricing on its senior non-preferred deal, and ended up turning off some investors altogether.

Xinyi Energy Holdings has come through tough market conditions to finalise its Hong Kong IPO, pricing the deal towards the bottom of the guidance range.

Tokyo Metropolitan Government and Kommuninvest released initial price thoughts on dollar trades on Monday, as investor demand in the currency remains high despite a run of deals last week.

Caisse des Dépôts et Consignations (CDC) will introduce its new green, social and sustainability bond framework to investors ahead of a debut euro benchmark sustainability bond.

Volvo, the Swedish lorry maker, took advantage on Friday of recent upgrades to both its ratings by issuing its first public euro bond since 2014. The decision seemed to pay off: the deal was six times covered, and priced close to or even through fair value.

The market welcomed a dose of investment grade rated corporate and financial supply on Thursday. State-owned enterprise (SOE) Shougang Group saw its bond rally in the aftermarket, while onshore brokerage Huatai Securities and China Ping An Insurance Overseas also managed to price deals tightly.

Vesteda, the Dutch housing company, proved there was plenty of hunger for green bonds on Thursday, when its first issue of the kind, a €500m no-grow eight year, hoovered up orders to finish six times oversubscribed.

Two issuance platforms are approaching readiness: one in bonds, one in loans. Both promise time and cost savings by replacing multiple systems with a single platform for issuers, dealers and investors, and automating documentation and payments.

The dollar corporate bond market showed its resilience this week as issuance rebounded, despite the US-China trade turmoil. “Trump, Trump, Trump,” was how one syndicate manager explained the reasons for the return of volatility as high grade credit markets see-sawed with the President’s mood swings.

France’s Eiffage has doubled the size of its revolving credit line to €2bn, with the civil engineering construction company becoming the latest name to add social and environmental language to its loan documentation.