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A trio of top tier SSA names nipped through a narrow issuance window at the start of the week to launch tightly priced dollar benchmarks.

Postal Savings Bank of China and its potential HK$62.7bn ($8.1bn) IPO got off to a roaring start due to hedge fund demand. Oversubscribed on day one, it is on track to be the world’s largest IPO in two years. But an order book so far dominated by regional names is about to get a lot more global as management leaves Hong Kong for roadshows in the UK and US. Jonathan Breen reports.

Hon Hai Precision Industry sealed $1bn from a dual-tranche offering, seizing what is thought to be the last good window before the Fed’s decision on a September rate hike.

State Bank of India (SBI) succeeded in pricing the first offshore Basel III additional tier one (AT1) offering from an Indian name this week, but a bullish pricing strategy meant orders were muted and it has struggled in secondary. Despite the glitches, many believe the deal has set an important benchmark, writes Addison Gong.

Telecom hardware company Tejas Networks has returned to the market for a listing, having first proposed an IPO before the financial crisis.

US coatings maker Axalta on Tuesday sold a €450m bond to redeem its 2021 euro notes, a month after it redeemed its 2021 dollars, cutting its coupon by 200bp.

A jumbo bond intended to refinance the debt of merged companies Quintiles and IMS on Wednesday added to a deluge of high yield issuance, with the market seeing €4bn of new bonds by Thursday.

State Bank of India launched the first-ever offshore Basel III compliant additional tier one (AT1) bank capital offering from an Indian name on Wednesday, a deal market participants expect to set the pricing benchmark for future Indian lenders from this asset class.

BOC Aviation is out with a $1bn borrowing, opening the dual tranche deal into general syndication on Tuesday, according to bankers.

Taiwanese electronics company Foxconn (Far East) has set its sights on a dual-tranche dollar offering, launching the bond on Wednesday morning in Asia.

China’s Industrial Bank took advantage of a quiet primary market on Tuesday, bagging $1bn from a dual trancher. Given the softer tone this week, the issuer went out with realistic expectations on pricing, which was key to the transaction’s success, according to bankers.