Commerzbank

Investors were queuing up to place orders for new deals from Norway’s Sbanken Boligkreditt and Poland’s mBank Hipoteczny on Thursday, as the pair looked to enter the euro covered bond market for the first time.

Bank of China (BOC) returned to the bond market with a Belt and Road blockbuster this week, raising around $3.2bn from a multi-tranche, multi-currency deal. Addison Gong reports.

Bank of China has priced bonds denominated in US dollars, euros and Australian dollars worth $3bn-equivalent, with another two tranches in New Zealand dollars set to be priced on Wednesday. The deal, sold under different branches of the bank, reflects the relentless bid for floating rate notes (FRNs).

Commerzbank reset the pricing of its covered bond curve to a more realistic market clearing level with its €500m 10 year on Monday, as Erste Group, HSBC, Axa Bank and mBank Hipoteczny announced deals.

Ghana Cocoa Board (Cocobod) has sent off invitations to its annual financing for its cocoa harvest amid concerns it may struggle to repay its previous loan.

A year after selling a $3.1bn-equivalent four-currency, six-tranche Belt and Road blockbuster, Bank of China is making a comeback with another Reg S only bond to support the initiative.

Hong Kong-listed conglomerate Fosun International launched a $500m loan into general syndication this week, according to bankers close to the deal.

Kuwait’s Burgan Bank has signed a $350m loan with a club of seven relationship banks to refinance borrowing done in 2015.

The euro market was all but deserted this week, but one borrower broke the silence, hitting screens for a socially responsible investment bond on Tuesday.

Russian gold miner Nordgold and coal company Siberian Coal Energy Co (Suek) signed syndicated loans in the week leading up to Vladimir Putin’s victory in the Russian general elections.

RHI Magnesita, the Austrian-Brazilian maker of refractory products, has refinanced its debt with a new €305.6m five year term loan.

The Council of Europe Development Bank returned to the market for socially responsible investments on Tuesday, printing a seven year “social inclusion” bond.