Citi

The investment grade bond market was noticeably cooler on Wednesday morning, compared to the €7.4bn and €5.4bn issued on Monday and Tuesday, respectively. Though calling it quiet would be a disservice, with Wednesday’s issuers looking to borrow €2.5bn. Meanwhile, a bond deal for a fertiliser mine in Yorkshire disappeared down a black hole.

Herald International Financial Leasing, a subsidiary of BMW, bagged its second Rmb2.5bn ($353m) auto lease asset-backed note on Tuesday, pricing the dual-tranche deal at the tighter end of the price guidance range.

A smaller deal size, a high-profile cornerstone investor and plenty of early engagement with investors have put Budweiser Brewing Company Apac’s second attempt at a Hong Kong IPO on solid ground.

Fresh from the announcement of a new stimulus package by the European Central Bank last week, investors stormed into the euro public sector bond market on Tuesday, led by KfW and Bpifrance. The latter printed €1.25bn, equaling its biggest ever single issue. The strong momentum is set to continue with a string of mandates, including two supranationals for Wednesday.

The Netherlands Development Finance Company debuted the first offshore Bolivian boliviano bond last Friday. Meanwhile on Monday, French agency Caisse des Dépôts et Consignations again returned to the ultra-long end to place a pair of callable euro notes.

Strong demand for Bangkok Bank’s dollar-denominated Basel III-compliant tier two transaction allowed Thailand’s largest lender to sell a bigger deal at a tighter price than expected, writes Addison Gong.

Keppel DC Real Estate Investment Trust priced a placement of new units at the top of guidance, raising S$235.4m ($171.3m) for the purchase of two data centres in Singapore.

Lendlease Global Commercial Real Estate Investment Trust has hit the road for its Singapore IPO as it seeks up to S$740.3m ($537.9m), according to a source close to the deal.

Adam Lavis, head of equities for Australia and New Zealand at Citi, is retiring from the bank after eight years.

French telecommunications company Altice France added another €1bn to its bond package, taking advantage of the historically issuer-friendly market conditions. The tranches were finalised after the European Central Bank announced a new round of stimulus, pushing down bond yields across the board.

KfW and Bpifrance were the first public sector borrowers out of the blocks in euros following last Thursday’s European Central Bank meeting in which it unleashed its new comprehensive stimulus package.

Banco Sabadell and ASB Finance launched senior bonds in the euro market on Monday, with the former hitting the ‘sweet spot’ of investor appetite and the latter struggling to achieve the same level of demand as its Kiwi peer ANZ New Zealand had last week.