Commerzbank

Abu Dhabi-based Union National Bank has distributed more than 50% of its $500m five year bond outside the Middle East, bucking the recent trend for more locally distributed bonds, according to a banker on the deal.

The IPO of Siemens Healthineers was covered on day one of its bookbuild on Tuesday after its parent, Siemens, set a price range designed to please potential investors in the IPO of its medical technology division.

Kommunekredit has printed a €1bn five year note — but two more SSA borrowers are lining up further out in the curve.

National Bank of Canada and Commerzbank both came to the market with seven year covered bonds on Tuesday.

Union National Bank has tightened price guidance on its benchmark dollar five year bond.

A pair of chunky fundraisings in Asia have been lapped up by banks, as China National Chemical Corp (ChemChina) and Zhejiang Geely Holding Group look to wrap up syndications next week.

Siemens has chosen to set a price range designed to please investors on the IPO of its medical technology division Siemens Healthineers, rather than seeking an aggressive valuation.

Commerzbank has mandated joint leads for a seven year mortgage backed Pfandbrief.

Oman’s Bank Sohar has successfully closed the syndication of a $300m loan, underwritten by Bank ABC and Commerzbank in December.

RCI Banque was one of the first issuers to sell a corporate bond in 2018. It has returned two months later with a dual-tranche offering which took advantage of demand for floating rate notes as well as fixed rate paper.

Six of the nine investment grade corporate new issues in the last week of February were announced with a three letter acronym that, while providing clarity, served to frustrate investors keen to see greater volumes of issuance. WNG stands for “will not grow” and this week told investors that the meagre sized deals would not be increased, irrespective of demand.

Finnish residential property developer Kojamo and French care home operator Orpea added to the geographical diversity of the property company corporate bonds sold this week with a €500m seven year deal, while frequent issuer RCI Banque sold a dual tranche offering