Citi

Yapi Kredi, the Turkish bank, has set the pricing for its additional tier one bond though eschewing a “traditional bookbuild process”.

Hong Kong’s Dah Sing Bank priced a popular $225m Basel III-compliant tier two deal, starting the market on a strong note in a year where more than $24bn of capital bonds from Asia are coming up for call.

Citi has named two new co-heads for the debt capital markets syndicate desk in Asia Pacific, succeeding James Arnold who is taking up another position within the bank.

The European Investment Bank and Bank Nederlandse Gemeenten showed the strength of the dollar market on Tuesday as they sparked the sector into life for 2019 with benchmarks offering minimal concession. Another pair of SSAs are hoping to emulate that success on Wednesday.

Belgium and KfW received well oversubscribed order books for 10 year euro benchmarks on Tuesday, with several public sector borrowers set to follow in the euro market this week.

First it was a pair of car finance issuers. Then came a pair of utilities. And on Tuesday it was a pair of telecoms companies that came to the corporate bond market. But the latest couple really got investors revved up with more than €16.5bn of orders placed.

The International Finance Corp sold its joint biggest sterling bond by volume with its debut Sonia-linked bond on Tuesday, adding to the flurry of trades in the format since the start of the year. But the Sonia rush is “not over yet”, according to a banker at one of the leads, with a few more on the horizon before the UK parliament votes on Theresa May's Brexit deal next week.

Yapı ve Kredi Bankası is planning an additional tier one dollar benchmark that looks likely to be the first issue of non-sovereign international bonds from the country since April.

The dollar market for public sector borrowers begins in earnest on Wednesday with a pair of borrowers out with benchmarks and bankers confident the deals will go well thanks to a demand/supply imbalance. The trades follow a small floater tap from a supranational on Monday that was the first syndicated deal of the year in the currency.

FMS Wertmanagement was quick to execute its inaugural Sonia-linked bond on Monday amid strong sterling floater demand. That hunger is showing no signs of abating, with International Finance Corporation looking to follow with its own debut Sonia bond on Tuesday.

China Kepei Education will launch investor education for its Hong Kong IPO next week, according to a source close to the transaction.

Emerging market issuers are hesitant to rush back into the market in the new year. Most are waiting on the sidelines until the tone becomes more settled and investor desks are fully staffed.