Commerzbank

Four new investment grade corporate bond issues in euros and one in sterling ensured European investors were much busier on Tuesday than they had been on Monday.

European high yield primary action resumed with Heide Raffinerie on Tuesday. As a first time issuer from an industry that makes up only a small portion of the market, the deal will test conditions after recent volatility, said sources.

Chinese issuers are storming the debt market this week, with Tuesday seeing the Export-Import Bank of China (Chexim), Shanghai Commercial Bank and Oceanwide Holdings Co among the borrowers enticing investors.

Crane maker Konecranes raised €150m with an inaugural Schuldschein on Monday, following its Finnish compatriot, food packager Huhtamäki.

The Export-Import Bank of China (Chexim) is holding investor calls on Monday for its third offshore transaction of 2017, opting again for a combination of dollars and euros, and possibly its first 30 year dollar bond.

Elis, the French laundry group, has raised €600m from 12 banks, in part to pay off the bridge facility it used to acquire UK rival Berendsen in the summer.

Chinese telecom firm Huawei Technologies has launched a $1.2bn five year loan into general syndication.

China Development Bank Corp priced its maiden international green bond on Thursday, raising close to $1.7bn from a dual-currency transaction that will fund Belt and Road related projects. The deal offered diversification not only to the issuer but also to investors.

The public sector market for euro paper is providing superb execution for those borrowers that still have needs in the currency — but those are few and far between.

Leveraged loan issuance is set to outpace sales of new high yield bonds with a surge this year, pushed by a varied array of borrowers seeking not just tighter margins on old debt, such as US chemical group Angus this week, but also funding for acquisitions, as with Nordic travel operator Etraveli.

Bookrunners on China Development Bank Corp’s debut international green bond have released price guidance for a dual-tranche transaction featuring dollars and euros.

China Development Bank Corp (CDB) is gearing up for talks with fixed income investors for its inaugural offshore green bond, mandating firms for a dual-currency transaction.