Citi

Spain and SNCF SA announced new euro benchmarks with 20 year maturities on Monday, following the European Investment Bank’s record-breaking effort in the tenor last Friday.

Kommunalbanken is looking to take advantage of the hot demand in the long end of the dollar curve, while the Inter-American Development Bank has chosen a more common maturity in the belly of the curve.

Veon, the emerging markets telecommunications firm, has mandated for a rouble bond issue, six months since its last trade, a hard currency offering.

La Banque Postale and Société Générale took advantage of favourable conditions in the financial institutions bond market on Monday to launch non-preferred senior deals in euros and make progress towards completing their 2020 funding plans.

Three European companies, one of them a high yield issuer, jumped into the corporate bond market on Friday, the first to test the waters after the European Central Bank's promise the previous day to top them up with another €600bn of liquidity through its Pandemic Emergency Purchase Programme (Pepp). They found overwhelming demand, leading to fast sales, an increase and deeply negative new issue premiums.

The European Commission's latest bond led to the issuer’s curve tightening — a good omen, given it is the first since the issuer announced its steeper funding requirement.

Reliance Industries raised Rp531.2bn ($7.04bn) this week from India’s largest ever rights issue and the company’s first primary equity offering for over 25 years.

Thailand’s PTT Exploration and Production Public Co (PTTEP) found strong support for its $500m seven year bond on Thursday, despite an aggressive price tightening during bookbuilding.

Chinese online game developer NetEase has raised HK$21.1bn ($2.7bn) from its secondary offering in Hong Kong, riding on strong investor support for its listing, according to a senior banker on the deal.

Singapore Telecommunications (Singtel) raised $750m on Wednesday from its annual bond outing.

Chinese online game developer NetEase had covered its HK$21.6bn ($2.8bn) secondary listing in Hong Kong multiple times over by the time GlobalCapital Asia went to press on Thursday. Investors have long awaited the company’s return from the US, pumping in orders as markets rallied despite numerous geopolitical headlines. Jonathan Breen reports.

Estonia returned to the capital markets on Wednesday after 18 years away, introducing itself to a new set of investors as an SSA borrower.