Citi
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The European Investment Bank pulled in over $3.8bn of demand for its first 10 year dollar benchmark in over a year, despite sharing screens with the supranational’s debut €STR-linked transaction. BNG is set to follow suit at five years with a sustainability bond. -
A pair of CEE corporates, Veon Holdings and NordGold, released initial price guidance for bonds on Tuesday, both offering paper after a break from international issuance.
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Youdao, an online education platform founded by Chinese technology giant NetEase, is planning an IPO of American Depository Shares (ADS), having filed a draft prospectus with the US regulator.
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The European Investment Bank hit screens with a $1bn no-grow global 10 year Climate Awareness Bond on Tuesday. The issuer has not printed a 10 year dollar benchmark since May 2017.
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Hannover Re has added to a string of recent new issuance from European insurers, opting for an unusual maturity structure for its tier two this week.
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Initial price guidance has been set for two corporate bonds from issuers in the CEE region — EP infrastructure and Metinvest. Both deals expected to be printed later on Tuesday.
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Sovcombank printed a tier two bond on Monday at the wide end of guidance and the lowest end of the expected size range, which an investor said was a sign that the deal was “struggling” over the line. But a lead manager on the note pointed to healthy trading on Tuesday and its debut status and said that the issuer had simply taken sensible decisions after an in-depth price discovery process.
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Alstom, the French maker of railway rolling stock, was the only high grade company to announce any corporate bond activity on Monday, as a public holiday in Germany and the huge flows of the last month kept the new issue market shuttered.
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Sovcombank was in the market on Monday morning with a subordinated bond, just 10 days after the issuer’s credit rating was upgraded by two major ratings agencies.
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A number of dollar bond issuers in Asia have moved to reopen their existing notes and add more funds to their coffers ahead of a week-long holiday in China for National Day.
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Singapore-listed Mapletree Commercial Trust is planning to raise S$874.8m ($632.9m) from the sale of new equity to part-fund a local acquisition.
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