Citi

Investors poured into Beijing Enterprises Group Company’s (BE Group) HK$4.31bn ($556m) exchangeable bond on June 10 as the opportunity to invest in a major blue chip was too good to ignore even though the terms were aggressive.

State-owned Kenya Pipeline Co has mandated a consortium of six banks to arrange a $350m 10 year loan.

Korean issuance is picking up in the wake of the Republic of Korea’s dual tranche offering on June 3. Latest out the blocks include Korea National Oil Corp. which is meeting investors for a euro-denominated bond, and Korea Gas Corp, which is looking at dollars.

GS Caltex Corp has opened guidance on a five year fixed rate bond and joins a number of Korean names in the market today bond issuance continues to ramp up.

Japan’s Accordia Golf is planning to start the premarketing process for its proposed business trust offering of its golf courses onto the Singapore Exchange next week, according to bankers on the trade.

Luye Pharma Group started premarketing an $800m Hong Kong IPO on June 11 and those on the deal are confident investor demand will be red hot.

Ryanair’s first bond issue was always likely to be a hit in the current buoyant markets, but the runaway success of today’s €850m sale still left lead managers delighted.

With senior FIG spreads moving tighter following the announcement of rate cuts by the European Central Bank last week, Intesa Sanpaolo was able to benefit from the ensuing hunt for yield on Tuesday to draw a hefty order book. In contrast, Finnish bank Pohjola struggled to tighten pricing on a five year senior print, though the UK’s Bupa benefited from its rarity to breeze through a sterling print.

Kookmin Bank will be meeting investors next week and the week after for a proposed international bond.

Sinopec Group Overseas Development took advantage of abundant liquidity to price a three tranche tap on Monday which resulted in across the board savings for the issuer. The oil major had returned to the market to reopen three of the five tranches from its record breaking $5bn April issue.

Kuveyt Turk Participation Bank is embarking on a roadshow to market a dollar sukuk.

Russia’s Nomos Bank launched a debut $2bn euro commercial paper programme on Tuesday. The borrower may wait to enter the market as investor appetite for Russian bank paper is still weak, according to commercial paper dealers.