Citi

UPL Corp broke a month-long absence of Indian issuers in the international debt market, raising $500m from investors.

Chinese real estate companies China Fortune Land Development and Ronshine China Holdings raised a combined $550m in the bond market on Tuesday, but their tight pricing did not appeal to all investors.

SK Biopharmaceuticals has begun bookbuilding for its up to W959.3bn ($804.9m) IPO. It is set to be South Korea’s first listing in 2020.

Three SSA borrowers hit the dollar market on Tuesday. The Inter-American Development Bank raised $4bn with a five year while Kommunalbanken tested the waters at 10 years. The World Bank joined them with a small but impressive bond linked to Sofr.

There were no issues of competing supply on Tuesday as three eurozone sovereigns amassed big order books, buoyed by last week’s expansion of the Pandemic Emergency Purchase Programme (Pepp).

Northern Powergrid, the UK energy distribution company, brought the longest sterling deal of the year so far with a 42 year trade on Tuesday, as syndicate bankers say that European investors are keen to see more long duration trades.

The Republic of Albania returned to the euro bond markets on Tuesday after more than a year and a half away, seeking a seven year deal.

Egypt’s debut green bond, which had been expected to come to market in the first half of the year, is on hold, according to sources. But although the coronavirus pandemic has impacted issuance for issuers such as Egypt, the green bond market is far from dead.

Hong Kong’s Champion Reit sold a tightly priced $300m bond on Monday, enticing investors with its rarity in the international market.

Korea Electric Power Corp (Kepco) returned to the green bond market on Monday, raising $500m on the back of a book that was 10 times oversubscribed.

Central China Real Estate and Greenland Holding Group Co raised a combined $900m in the international debt market on Monday.

The corporate bond market made a promising start to the week with oil company OMV’s dual tranche bonds and Deutsche Börse’s hybrid trade commanding sizeable books and big price moves, which bodes well for the spate of mandates that have landed on investors’ screens.