Citi

Investors are still hungry to put their money to work in short dated dollars after a bumper last week, with the European Investment Bank on Tuesday set to price a $4.5bn three year bond and the African Development Bank mandating for a two year benchmark.

Snam visited the euro corporate bond market for the second week in a row on Tuesday, issuing a €500m four year bond and clinching a 0% coupon for the offering.

Kommunalbanken, the Norwegian agency, has selected three banks for a Reg S/144A green bond.

Equate Petrochemical Company, a US and Kuwaiti joint venture, has picked banks for its debut bond issue and, despite heavy supply from Middle East borrowers, bankers have no doubt demand for the deal will be strong.

Korea National Oil Corp priced a dual-tranche offering on Monday, selling a 10 year portion at a tighter spread than a five year, according to bankers.

Industrial and Commercial Bank of China’s New York branch decided to scrap a 10 year portion of a dual-trancher on Monday, as mismatch on pricing led to investors shunning the tenor in favour of a five year.

Syndication is under way for a A$500m ($380m) five year facility to support Philippine consumer food and beverage company Universal Robina Corp’s acquisition of Snack Brands Australia.

Keppel DC Reit Management has kicked open a rights issue worth up to S$279.5m ($201.4m), while Zhuguang Holdings Group Co has launched a HK$1.4bn ($180.4m) offering — both to fund acquisitions.

South Korea’s Samsung BioLogics gathered enough orders from investors to cover its W2.25tr ($2.0bn) IPO after the very first day of bookbuilding.

German residential and commercial property company Aroundtown Property hit the investment grade corporate bond market for its debut hybrid transaction on Monday, executing the deal in a market where indices fell.

The European Investment Bank was first into the dollar market this week with a three year mandate, the maturity of choice for dollar issuers over the last few weeks. Export Development Canada last Friday sold the first five year dollar benchmark from SSA in several weeks and, while it went well, bankers do not expect other issuers to follow suit.

Ahli United Bank Kuwait has opened books on a perpetual dollar sukuk after wrapping up investor meetings on Monday, books were oversubscribed and were due to close on Tuesday, according to leads.