Citi

Citi is set to continue a run of highly oversubscribed 10 year bonds, announcing a self-led trade on Thursday morning. Like deals from BNP Paribas and Crédit Agricole earlier in the week, the deal has drawn a bumper book, even as the 10 year bonds from the two French banks continue to trade wide of initial levels.

Maoye International Holdings priced its debut dollar bond on Monday, its third attempt to sell an international deal. With the right timing and careful guidance by dealers, the bond crossed the line with orders of $1.1bn for the $300m offering.

Malaysia’s Reach Energy is looking to become the fourth special purpose acquisition company (Spac) to list on the country’s stock exchange, having filed for a MR750m ($232m) IPO on Monday. If successful, Reach Energy could trump Sona Petroleum as the largest Malaysian Spac listing.

Hainan Airlines opened the books for a three year offshore renminbi transaction on Thursday, with investor demand reaching Rmb3bn ($481m) by late afternoon. The deal will be the first offshore RMB corporate bond to be listed, cleared and settled in Singapore.

French insurance firm Axa is looking to sell a rare perpetual non-call note, taking in a blowout book despite the heft of subordinated financials debt seen this week.

South Korean oil refiner GS Caltex will be meeting with investors over the next two weeks after for a proposed dollar issue.

Five FIG issuers took to the subordinated markets to take advantage of months of undersupply this week, with the results highlighting not just the feverish grab for yield but also just how far banks have come since the crisis of 2008 in building their capital levels.

Yankee banks returned to the dollar fray with opportunistic trades from Barclays and Westpac, with the UK bank mirroring a recent trend in euro deals by printing a long dated bond.

Rabobank and Banque Fédérative du Crédit Mutuel are taking full advantage of one of the best windows for subordinated issuance so far this year to print €4.2bn equivalent in tier two capital across three deals, as total European FIG issuance this week surpasses the €10bn mark.

Bankers expect a swathe of Russian corporate liability management trades to follow steel company Severstal releasing results of its tender offer on Wednesday evening.

The Investment Corporation of Dubai has the emirate’s sovereign curve in clear sight as it looks to issue a debut $500m six-year sukuk as well as a $500m 10-year conventional bond on Wednesday afternoon.

The US bank has registered a big increase in digital banking usage among its consumer bank clients, and anticipates this growth will continue as customers increasing turn to internet-related banking.