Citi

As many as eight covered bonds were launched across three currencies this week, the vaguely discernible pattern suggesting better interest for the larger deals with intermediate maturities and particularly those from non-eurozone issuers where liquidity is most likely to be better.

Israel reopened the CEEMEA bond market in style on Wednesday, placing a rare 20 year euro bond, part of a €2.25bn dual tranche offering, which enabled the issuer to tap into new investors.

Adani Ports and Special Economic Zone continued the Indian issuer trend this week, grabbing $500m from international investors as Chinese borrowers wait until after the New Year holiday to hit the market.

China’s Wisdom Education International Holdings hit the road on Thursday, opening books for its Hong Kong IPO that could raise up to HK$1.1bn ($147.0m).

Corporates from Hong Kong, China and Singapore were clamouring for investors’ attention on Thursday for their respective offerings.

The Republic of Korea is set to be the first Asian sovereign to sell bonds in the New Year, marketing a dollar-denominated 10 year on Thursday morning.

Export Development Canada showed on Wednesday that despite some big deals this year in fives, there is still plenty of demand in the three year part of the dollar curve as it took the rare step of increasing a deal from its initial size target. The trade came as a trio of other dollar deals hit screens.

Gas Natural Fenosa, the Spanish energy firm, kept the long end alive on Wednesday as it issued a €1bn 10 year bond that won over two times oversubscription.

Israel burst onto screens on Wednesday to open CEEMEA issuance for 2017. A popular name with investors, the 20bp premium offered at initial price thoughts seemed to go down well with the €6.5bn of orders submitted before lunch.

Latin American issuers are leading the charge to primary markets this year so far in emerging market bonds but Wednesday saw the first CEEMEA issuer to open books as Israel tried a dual tranche 10 and 20 year trade.

BPRL International Singapore has paved the way for Indian debt issuers this year, bagging $600m from a well-received debut on Tuesday.

Citi has made two new appointments in its research division, including a senior hire from Jefferies, according to a memo seen by GlobalCapital Asia.